EUR/JPY Price Analysis: Recovery now targets the 121.50 region

EUR/JPY keeps the recovery alive and is approaching the 121.00 zone.
Immediately to the upside emerges the February’s top near 121.50.

Pablo Piovano FXStreet

EUR/JPY keeps the bullish mood well in place for yet another session on Wednesday.

The cross has broken above the critical 200-day SMA in the 120.00 neighbourhood and in doing so it has opened the door for a potential move to the February’s peak near 121.50.

As long as the 200-day SMA, today at 120.02, holds the downside, there is still scope for the continuation of the rally.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	120.68
Today Daily Change	138
Today Daily Change %	0.58
Today daily open	119.99

Trends
Daily SMA20	119.04
Daily SMA50	119.93
Daily SMA100	120.44
Daily SMA200	120.05

Levels
Previous Daily High	120.54
Previous Daily Low	118.82
Previous Weekly High	119.69
Previous Weekly Low	116.9
Previous Monthly High	121.4
Previous Monthly Low	118.38
Daily Fibonacci 38.2%	119.88
Daily Fibonacci 61.8%	119.48
Daily Pivot Point S1	119.02
Daily Pivot Point S2	118.06
Daily Pivot Point S3	117.29
Daily Pivot Point R1	120.75
Daily Pivot Point R2	121.51
Daily Pivot Point R3	122.48

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD: Breakdown below trading range support near 1.1770 comes into play

The EUR/USD pair opens with a bearish gap at the start of a new week as the US-Iran war-led global flight to safety boosts the US Dollar. Spot prices, however, lack follow-through selling and manage to hold above mid-1.1700s during the Asian session.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold retreats from $5,400; still up over 1% amid Middle East tensions

Gold retreats from the $5,400 neighborhood, or its highest level since late January, touched in the Asian session on Monday, though it manages to hold above the $5,300 round figure. The bright metal opened with a bullish gap of about $17 and rallied toward the $5,400 level as Asian traders hit their desks and reacted negatively to the weekend news of the US and Israel attacks on Iran, rushing for cover in Gold.

Top Crypto Losers: Tezos, Toncoin, and Polkadot at crucial levels amid US-Israel strike on Iran

Altcoins such as Tezos, Toncoin, and Polkadot rank among the worst hit cryptocurrencies over the last 24 hours amid the US and Israel's attack on Iran. Tezos and Toncoin are down to crucial support levels while Polkadot remains near a crucial resistance trendline, showcasing underlying strength.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.