EUR/JPY Technical Analysis: Further downside could see the 120.80 region retested

EUR/JPY is extending the correction lower and is now putting the key support at 122.00 the figure to the test.
The acceleration of the selling impulse carries the potential to drag the cross to recent lows in the 120.80/75 band ahead of YTD lows in sub-119.00 levels (‘flash crash’ in early January).
Furthermore, the negative view on the cross remains unchanged below the multi-month resistance line, today at 125.09.

Pablo Piovano FXStreet

EUR/JPY daiy chart

EUR/JPY

Overview
Today last price	122.05
Today Daily Change	30
Today Daily Change %	-0.13
Today daily open	122.21

Trends
Daily SMA20	122.33
Daily SMA50	123.77
Daily SMA100	124.58
Daily SMA200	126.42

Levels
Previous Daily High	122.57
Previous Daily Low	122.12
Previous Weekly High	122.72
Previous Weekly Low	120.78
Previous Monthly High	125.24
Previous Monthly Low	120.92
Daily Fibonacci 38.2%	122.29
Daily Fibonacci 61.8%	122.4
Daily Pivot Point S1	122.03
Daily Pivot Point S2	121.86
Daily Pivot Point S3	121.59
Daily Pivot Point R1	122.48
Daily Pivot Point R2	122.75
Daily Pivot Point R3	122.92

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 recedes to daily lows near 1.1850

EUR/USD keeps its bearish momentum well in place, slipping back to the area of 1.1850 to hit daily lows on Monday. The pair’s continuation of the leg lower comes amid decent gains in the US Dollar in a context of scarce volatility and thin trade conditions due to the inactivity in the US markets.

GBP/USD resumes the downtrend, back to the low-1.3600s

GBP/USD rapidly leaves behind Friday’s decent advance, refocusing on the downside and retreating to the 1.3630 region at the beginning of the week. In the meantime, the British Pound is expected to remain under the microscope ahead of the release of the key UK labour market report on Tuesday.

Gold looks inconclusive around $5,000

Gold partially fades Friday’s strong recovery, orbiting around the key $5,000 region per troy ounce in a context of humble gains in the Greenback on Monday. Additing to the vacillating mood, trade conditions remain thin amid the observance of the Presidents Day holiday in the US.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.