EUR/JPY Technical Analysis: The 200-hour SMA below 125.00 caps the upside near term

The recovery in the cross following the ‘flash crash’ in the Japanese currency at the beginning of the year stalled just ahead 125.00 the figure, where sits the key 200-hour SMA and the 10-day SMA.
The inability of EUR/JPY to break above this area should prompt some near term consolidation, while in the broader picture the cross should keep the bearish stance while below the immediate resistance line, today at 126.22.

Pablo Piovano FXStreet

EUR/JPY hourly chart

EUR/JPY

Overview:
    Today Last Price: 124.44
    Today Daily change: -32 pips
    Today Daily change %: -0.256%
    Today Daily Open: 124.76
Trends:
    Previous Daily SMA20: 126.48
    Previous Daily SMA50: 127.8
    Previous Daily SMA100: 128.87
    Previous Daily SMA200: 129.32
Levels:
    Previous Daily High: 124.81
    Previous Daily Low: 123.4
    Previous Weekly High: 127.07
    Previous Weekly Low: 118.84
    Previous Monthly High: 129.3
    Previous Monthly Low: 125.36
    Previous Daily Fibonacci 38.2%: 124.27
    Previous Daily Fibonacci 61.8%: 123.94
    Previous Daily Pivot Point S1: 123.84
    Previous Daily Pivot Point S2: 122.91
    Previous Daily Pivot Point S3: 122.43
    Previous Daily Pivot Point R1: 125.25
    Previous Daily Pivot Point R2: 125.73
    Previous Daily Pivot Point R3: 126.66

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 clings to gains around 1.1800

EUR/USD manages to regain composure and retests the 1.1800 region in quite a positive start to the week. The pair’s bounce follows the US Dollar’s offered stance post-SCOTUS ruling ahead of important US data and Fedspeak on Tuesday.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Ethereum Price Forecast: BitMine's holdings reach 4.42 million ETH as Fundstrat predicts 87% win-ratio

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) scooped up 51,162 ETH last week, marking its largest purchase since December.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.