• EUR/JPY is inching towards its seven-year high at 144.25 as investors await ECB's Lagarde.
  • The speech from ECB President Lagarde is expected to remain hawkish on interest rates amid soaring inflation.
  • The continuation of an ultra-loose monetary policy will keep the yen bulls on the tenterhooks.

The EUR/JPY pair is oscillating in a minor range of 143.17-143.36 in early Tokyo. Broadly, the asset is modestly advancing after sensing a rebound near Thursday’s low at 141.58. The cross is aiming to recapture its seven-year high at 144.25 as investors are awaiting the speech from European Central Bank (ECB) President Christine Lagarde, which is due on Tuesday.

ECB Lagarde is expected to dictate the roadmap of elevating the interest rates to combat the inflation monster. It is worth noting that the ECB has not followed the footprints of its Western mates and has not elevated its policy rates yet. The inflation rate has climbed above 8% in the eurozone and the only measure that has been taken by the ECB to contain inflation is the ending of the Asset Purchase Program (APP).

This time a rate hike announcement by the ECB looks likely as the inflation situation has turned into a mess and the households are facing the headwinds of the same.  

On the Tokyo front, a continuation of an ultra-loose monetary policy by the Bank of Japan (BOJ) will keep the Japanese yen on the tenterhooks. Despite the achievement of the desired inflation rate, the BOJ is unable to elevate its interest rates as the price pressures are majorly contributed by costly fossil fuels and food prices. For further guidance, investors will keep an eye on the Retail Trade data, which is due on Wednesday.

As per the market estimates, Japan’s Retail Trade is seen at 3.3%, higher than the former print of 2.9% on an annual basis. While the monthly Retail Trade may drop to -0.1% vs. 0.8% recorded earlier.


Today last price 143.23
Today Daily Change -0.12
Today Daily Change % -0.08
Today daily open 143.35
Daily SMA20 141.38
Daily SMA50 138.51
Daily SMA100 135.22
Daily SMA200 132.61
Previous Daily High 143.48
Previous Daily Low 142.03
Previous Weekly High 144.24
Previous Weekly Low 141.39
Previous Monthly High 138.32
Previous Monthly Low 132.66
Daily Fibonacci 38.2% 142.93
Daily Fibonacci 61.8% 142.59
Daily Pivot Point S1 142.43
Daily Pivot Point S2 141.51
Daily Pivot Point S3 140.98
Daily Pivot Point R1 143.88
Daily Pivot Point R2 144.41
Daily Pivot Point R3 145.33




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.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

EUR/USD steadies near 1.0220 with eyes on German/US inflation amid hawkish Fed bets

EUR/USD steadies near 1.0220 with eyes on German/US inflation amid hawkish Fed bets

EUR/USD picks up bids to reverse early Asian session losses, stays mildly bid around weekly top. DXY tracks sluggish yields even as Fedspeak favors 75 bps rate hike in September. Final readings of Germany’s HICP inflation for July can entertain traders ahead of US CPI.


GBP/USD turns sideways around 1.2080 as investors await US Inflation release

GBP/USD turns sideways around 1.2080 as investors await US Inflation release

GBP/USD is juggling in six-pips as investors are expected to create positions post US Inflation data. For Fed’s neutral stance, a spree of a slowdown in price pressures is required. The UK's GDP is expected to remain vulnerable ahead.


Gold: Bear cross to challenge bulls ahead of US inflation Premium

Gold: Bear cross to challenge bulls ahead of US inflation

Gold price tested the $1,800 mark for the first time in over a month on Tuesday, having shrugged off resurgent demand for the US dollar even as the Treasury yields jumped across the curve. XAU/USD eyes a softer US CPI print for a big break above the $1,800 mark.

Gold News

How to trade DOGE as crypto markets coil up after recent crash?

How to trade DOGE as crypto markets coil up after recent crash?

Dogecoin price trades between the $0.078 resistance and $0.057 support levels. DOGE could either sweep the $0.074 level first before crashing to $0.057 or directly do it from its current position. A daily candlestick close above $0.078 will invalidate the bearish outlook for the meme coin.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!