EURJPY Price Analysis: Corrective decline could extend to 144.00

EURJPY extends the weekly leg lower for the third session in a row.
Immediately to the downside now comes the 144.00 region.

Pablo Piovano FXStreet

EURJPY clinches the third straight day with losses and breaks below the key 146.00 support on Thursday.

The cross seems to have embarked on a corrective phase and the continuation of this stance could challenge the so far November low at 144.03 (November 3) in the short term. Further south awaits the 55-day SMA, today at 143.28.

In the short term the upside momentum is expected to persist while above the October lows near 141.00.

In the longer run, while above the key 200-day SMA at 138.03, the constructive outlook is expected to remain unchanged.

EURJPY daily chart

EUR/JPY

Overview
Today last price	145.65
Today Daily Change	116
Today Daily Change %	-0.70
Today daily open	146.68

Trends
Daily SMA20	146.28
Daily SMA50	143.66
Daily SMA100	141.12
Daily SMA200	138

Levels
Previous Daily High	147.11
Previous Daily Low	146.32
Previous Weekly High	147.76
Previous Weekly Low	144.04
Previous Monthly High	148.4
Previous Monthly Low	140.9
Daily Fibonacci 38.2%	146.81
Daily Fibonacci 61.8%	146.62
Daily Pivot Point S1	146.3
Daily Pivot Point S2	145.91
Daily Pivot Point S3	145.5
Daily Pivot Point R1	147.09
Daily Pivot Point R2	147.49
Daily Pivot Point R3	147.88

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 looks sidelined around 1.1850

EUR/USD remains on the back foot, extending its bearish tone and sliding towards the 1.1850 area to print fresh daily lows on Monday. The move lower comes as the US Dollar gathers modest traction, with thin liquidity and subdued volatility amplifying price swings amid the US market holiday.

GBP/USD flirts with daily lows near 1.3630

GBP/USD has quickly given back Friday’s solid gains, turning lower at the start of the week and drifting back towards the 1.3630 area. The focus now shifts squarely to Tuesday’s UK labour market report, which is likely to keep the quid firmly in the spotlight and could set the tone for Cable’s next move.

Gold battle around $5,000 continues

Gold is giving back part of Friday’s sharp rebound, deflating below the key $5,000 mark per troy ounce as the new week gets underway. Modest gains in the US Dollar are keeping the metal in check, while thin trading conditions, due to the Presidents Day holiday in the US, are adding to the choppy and hesitant tone across markets.

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.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.