EUR/JPY Price Analysis: Downside pressure alleviated above 129.60

EUR/JPY bounces off recent lows in the 127.50 region.
Above 129.50 the selling pressure should mitigate somewhat.

Pablo Piovano FXStreet

Despite the current daily rebound, the outlook for EUR/JPY still falls on the fragile side, to be optimistic.

The continuation of the downtrend remains well on the cards for the time being, although further recovery faces the initial hurdle at the 10-day SMA at 128.92. Further up comes the weekly top around 129.60 (November 24) and if cleared, then the downside pressure is expected to alleviate somewhat.

Looking at the broader picture, the outlook for the cross is expected to remain negative while below the 200-day SMA, today at 130.55.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	128.31
Today Daily Change	77
Today Daily Change %	0.09
Today daily open	128.2

Trends
Daily SMA20	130.08
Daily SMA50	130.51
Daily SMA100	130.05
Daily SMA200	130.59

Levels
Previous Daily High	128.57
Previous Daily Low	127.49
Previous Weekly High	129.6
Previous Weekly Low	127.8
Previous Monthly High	133.48
Previous Monthly Low	128.34
Daily Fibonacci 38.2%	127.9
Daily Fibonacci 61.8%	128.16
Daily Pivot Point S1	127.6
Daily Pivot Point S2	127.01
Daily Pivot Point S3	126.52
Daily Pivot Point R1	128.68
Daily Pivot Point R2	129.17
Daily Pivot Point R3	129.76

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 strengthens above 1.1800 ahead of German IFO data

EUR/USD gains ground for the second successive session, holding well above 1.1800 in the European session on Monday. The US Dollar remains heavy as a 'Sell America' theme returns to the fore amid uncertainty fuelled by US President Trump's latest tariff announcement. German IFO Survey could offer fresh trading impetus.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold clings to gains near monthly peak amid flight to safety and weak USD

Gold sticks to its bullish bias near the monthly peak heading into the European session and looks to build on last week's breakout through the $5,100 mark amid a supportive fundamental backdrop. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Liberation day take two, the tariff machine just changed gears

Let me caveat this from the outset. What we are watching is first-order mechanics, not the grand macro endgame. This is the market’s immediate reflex to a 15% Trump tariff levy dressed up as judicial drama. The Supreme Court blocked Trump tarrif hammer. The White House came back with a scalpel.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.