EUR/JPY Technical Analysis: Bears now eyeing a retest of 1-month old trading range support near 127.60

Haresh Menghani FXStreet

• The pair extended overnight rejection slide from 100-day SMA and dropped to fresh weekly lows, around the 128.00 handle on dismal Euro-zone PMI prints.

• The mentioned hurdle coincides with the top end of a broader trading range, held over the past one month or so and forming a rectangle on the daily chart.

EUR/JPY daily chart

• Adding to this, a pickup in the JPY's safe-haven demand, amid the prevalent risk-off mood, further collaborated to the pair's sharp intraday downfall.

• A decisive breakthrough 100-hour SMA was seen as a key trigger for bearish traders, though oversold conditions on the 1-hourly chart might help limit losses.

1-hourly chart

• Meanwhile, technical indicators on 4-hourly/daily charts have just started gaining negative momentum and thus, increase prospects for an extension of the ongoing slide.

• Hence, a follow-through weakness, towards challenging the one-month-old trading range, around the 127.65-60 region, now looks a distinct possibility.

EUR/JPY

Overview:
    Today Last Price: 128.18
    Today Daily change: -91 pips
    Today Daily change %: -0.705%
    Today Daily Open: 129.09
Trends:
    Previous Daily SMA20: 128.62
    Previous Daily SMA50: 128.86
    Previous Daily SMA100: 129.21
    Previous Daily SMA200: 129.73
Levels:
    Previous Daily High: 129.27
    Previous Daily Low: 128.58
    Previous Weekly High: 129.3
    Previous Weekly Low: 127.61
    Previous Monthly High: 130.16
    Previous Monthly Low: 127.5
    Previous Daily Fibonacci 38.2%: 129.01
    Previous Daily Fibonacci 61.8%: 128.84
    Previous Daily Pivot Point S1: 128.69
    Previous Daily Pivot Point S2: 128.29
    Previous Daily Pivot Point S3: 128
    Previous Daily Pivot Point R1: 129.38
    Previous Daily Pivot Point R2: 129.67
    Previous Daily Pivot Point R3: 130.08

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

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.