EUR/JPY rebounds off triple bottom at 127.90 [Video]

Melina Deltas, CFTe XM

EURJPY has been in an upside corrective mode after the latest rebound off the 127.90 level, creating a triple bottom formation in the region.

In technical indicators, the RSI is pointing upwards in the negative region, confirming the recent bullish move. However, the MACD is still holding below its trigger and zero lines, keeping some caution in place. In trend indicators, the 20- and 40-day simple moving averages (SMAs) have posted a bearish crossover in the short-term picture, currrently approaching the 200-day SMA as well.

If the price continues the upside move, immediate resistance could come from the 200-day SMA at 130.56, while higher, the negative cross of the short-term SMAs at 130.75 will also be closely watched. Breaching these lines, the pair could meet the 131.40 barrier ahead of the 132.90 level.

On the flip side, a potential downside movement could test again the 127.90 bottom. A successful break below this key support would shift the outlook to strongly negative, likely causing a more aggressive sell-off towards the 125.15 hurdle and the 122.80 level.

Summarizing, EURJPY is creating a bullish triple low pattern around 127.90 and any moves beneath this line could bring the bears back into play. In the big picture, a jump beyond the more-than-three-year high of 134.11 is needed to switch the outlook to positive.

Author

Melina Deltas, CFTe

Melina joined XM in December 2017 as an Investment Analyst in the Research department. She can clearly communicate market action, particularly technical and chart pattern setups.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold pushes back above $5,000

The daily chart shows spot Gold in a parabolic uptrend that accelerated sharply from the $4,600 area in late January, printing a record high at $5,598.25 before a violent reversal erased nearly $1,000 in value during the final days of the month.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.