EUR/JPY Technical Analysis: downside stalled around the 55-day SMA at 119.25

The down move in EUR/JPY appears to have met decent support in the area of 4-week lows near 119.20, where also sits the key 55-day SMA.
If this area is cleared, there is no relevant support levels until October lows in the 117.00 neighbourhood ahead of the 2019 low in sub-116.00 levels recorded in early September.
Occasional bullish attempts, however, are expected to meet initial resistance in the 120.00 neighbourhood ahead of the 21-day SMA, today at 120.57.

Pablo Piovano FXStreet

EUR/JPY daily chart

EUR/JPY

Overview
Today last price	119.66
Today Daily Change	37
Today Daily Change %	0.13
Today daily open	119.5

Trends
Daily SMA20	120.62
Daily SMA50	119.43
Daily SMA100	119.53
Daily SMA200	121.89

Levels
Previous Daily High	119.82
Previous Daily Low	119.24
Previous Weekly High	121.31
Previous Weekly Low	120.14
Previous Monthly High	121.48
Previous Monthly Low	117.07
Daily Fibonacci 38.2%	119.46
Daily Fibonacci 61.8%	119.6
Daily Pivot Point S1	119.22
Daily Pivot Point S2	118.94
Daily Pivot Point S3	118.64
Daily Pivot Point R1	119.8
Daily Pivot Point R2	120.1
Daily Pivot Point R3	120.38

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 challenges 1.1800, two-week lows

EUR/USD remains on the defensive, extending its leg lower to the vicinity of the 1.1800 region, or two-week lows, on Tuesday. The move lower comes as the US Dollar gathers further traction ahead of key US data releases, inclusing the FOMC Minutes, on Wednesday.

GBP/USD looks weaker near 1.3500

GBP/USD adds to Monday’s pessimism and puts the 1.3500 support to the test on Tuesday. Cable’s marked pullback comes in response to extra gains in the Greenback while disappointing UK jobs data also collaborate with the offered bias around the British Pound.

Gold loses further momentum, approaches $4,800

Gold recedes to fresh two-week troughs around the $4,800 region per troy ounce on Tuesday. The precious metal builds on Monday’s downtick following a marked rebound in the US Dollar and mixed US Treasury yields across the board.

Crypto Today: Bitcoin, Ethereum, XRP upside looks limited amid deteriorating retail demand

The cryptocurrency market extends weakness with major coins including Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) trading in sideways price action at the time of writing on Tuesday.

UK jobs market weakens, bolstering rate cut hopes

In the UK, the latest jobs report made for difficult reading. Nonetheless, this represents yet another reminder for the Bank of England that they need to act swiftly given the collapse in inflation expected over the coming months.

Ripple slides to $1.45 as downside risks surge

Ripple edges lower at the time of writing on Tuesday, from the daily open of $1.48, as headwinds persist across the crypto market. A short-term support is emerging at $1.45, but a buildup of bearish positions could further weaken the derivatives market and prolong the correction.