EUR/JPY met resistance at the 10-day SMA near 117.80


  • EUR/JPY stays on the defensive in the mid-117.00s.
  • US-China trade war remains a key driver for price action.
  • German final Q2 GDP disappointed expectations.

The positive note around the Japanese safe haven sent EUR/JPY to the 117.50 region after faltering ahead of the 10-day SMA in the 117.80/85 band.

EUR/JPY looks to trade, data

The cross has resumed the downside on Tuesday following yesterday’s bullish ‘outside day’.

EUR/JPY slipped back into the negative territory following rising uncertainty regarding the potential resumption of trade talks between the US and China in the near term. Rising doubts on this scenario pushed US yields lower and gave extra wings to the Japanese currency.

In addition, the absence of a clear direction in the single currency is also weighing on the cross, particularly after final German Q2 GDP figures failed to ignite a positive reaction among investors earlier today.

In today’s docket and later in the NA session, the Conference Board will publish its gauge of Consumer Confidence for the current month.

EUR/JPY relevant levels

At the moment the cross is losing 0.34% at 117.36 and a breach of 116.56 (2019 low Aug.26) would open the door to 114.85 (2017 low Apr.17) and finally 113.71 (monthly low Nov.9 2016). On the upside, the next hurdle is located at 118.49 (21-day SMA) followed by 119.87 (high Aug.6) and then 120.43 (55-day SMA).

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD languishes near multi-year lows below 0.6250 after dovish RBA Minutes

AUD/USD languishes near multi-year lows below 0.6250 after dovish RBA Minutes

AUD/USD remains depressed below 0.6250 early Tuesday after the December RBA Minutes reiterated that upside inflation risks had diminished, which reaffirms bets for a rate cut in early 2025. This, along with concerns about China's fragile economic recovery and US-China trade war, undermines the Aussie and weighs on the pair.

AUD/USD News
USD/JPY eases toward 157.00 after Japanese verbal intervention

USD/JPY eases toward 157.00 after Japanese verbal intervention

USD/JPY has come under renewed selling pressure, easing toward 157.00 after Japanese Finance Minister Kato's verbal intervention. The pair erased early gains, induced by the October BoJ meeting Minutes. However, the downside could be limited as the US Dollar hold the previous rebound. 

USD/JPY News
Gold remains stuck between two key barriers amid thin trading

Gold remains stuck between two key barriers amid thin trading

Gold price is attempting another run higher while defending the $2,600 threshold early Tuesday. In doing so, Gold price replicates the recovery moves seen in Monday’s trading, which eventually fizzled out on a broad US Dollar comeback in tandem with US Treasury bond yields.  

Gold News
Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana dominates Bitcoin, Ethereum in price performance and trading volume: Glassnode

Solana is up 6% on Monday following a Glassnode report indicating that SOL has seen more capital increase than Bitcoin and Ethereum. Despite the large gains suggesting a relatively heated market, SOL could still stretch its growth before establishing a top for the cycle.

Read more
Bank of England stays on hold, but a dovish front is building

Bank of England stays on hold, but a dovish front is building

Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures