EUR/JPY Technical Analysis: Corrective downside could test the 100-day SMA at 119.59

EUR/JPY is extending the correction lower following the renewed demand for the safe haven JPY.
The continuation of the leg lower could see the key 100-day SMA near 119.60 re-tested in the short-term horizon ahead of the 55-day SMA just above 119.00 the figure.
On the flip side, the resumption of the bullish mood continues to target the area of recent tops in the mid-121.00s.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	120.22
Today Daily Change	35
Today Daily Change %	-0.12
Today daily open	120.37

Trends
Daily SMA20	120.68
Daily SMA50	119.2
Daily SMA100	119.62
Daily SMA200	122

Levels
Previous Daily High	120.88
Previous Daily Low	120.2
Previous Weekly High	121.31
Previous Weekly Low	120.14
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	120.46
Daily Fibonacci 61.8%	120.62
Daily Pivot Point S1	120.09
Daily Pivot Point S2	119.81
Daily Pivot Point S3	119.42
Daily Pivot Point R1	120.76
Daily Pivot Point R2	121.16
Daily Pivot Point R3	121.44

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 treads water above 1.1850 amid thin trading

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day.

GBP/USD flat lines as traders await key UK and US macro data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.365 in Monday's European trading. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold sticks to intraday losses; lacks follow-through

Gold remains depressed through the early European session on Monday, though it has managed to rebound from the daily trough and currently trades around the $5,000 psychological mark. Moreover, a combination of supporting factors warrants some caution for aggressive bearish traders, and before positioning for deeper losses.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.