EUR/JPY comes under pressure near the 10-day SMA at 122.10


  • EUR/JPY faces downside pressure near 122.00 today.
  • Trade, risk-trends continue to drive the global sentiment.
  • German May final CPI figures left no room for surprises today.

EUR/JPY exchanges gains with losses so far on Thursday although it so far manages well to keep business above the 122.00 mark.

EUR/JPY looks to trade for direction

Trade concerns are easing a tad today after President Trump showed some confidence on a potential US-China deal in yesterday’s comments. In this regard, markets’ focus has shifted to the G-20 meeting in Japan later in the month, where Trump and Xi Jingpin could meet.

In the meantime and without no events on the horizon, prospects of the potential return to a more accommodative monetary policy stance in several G10 central banks should continue to dictate the mood around the global markets, somehow supporting the demand for riskier assets.

In the docket today, final inflation figures in Germany matched the preliminary readings for the month of May, leaving no room for surprises. In the NA session, Import/Export Prices and Initial Claims are unlikely to move the dial among investors.

EUR/JPY relevant levels

At the moment the cross is losing 0.03% at 122.43 and a breakdown of 122.10 (10-day SMA) would expose 120.78 (low Jun.3) and then 120.54 (monthly low Jan.17 2017). On the upside, the next hurdle aligns at 123.17 (high Jun.11) seconded by 123.75 (high May 21) and finally 123.86 (55-day SMA).

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD bouncing modestly on disappointing US Consumer Confidence

The shared currency remains pressured by the idea that the ECB will come out with massive stimulus measures in September. US Michigan Consumer Confidence down to 92.1 brakes dollar's gains.

EUR/USD News

GBP/USD retreats sharply after approaching 1.2200

The GBP/USD pair came under selling pressure after flirting with weekly highs, as a dismal US confidence report brought back risk-off. GBP/USD still up for the week and above the critical 1.2100 level.

GBP/USD News

USD/JPY: Greenback makes modest progress against Yen, near 106.30

The demand for Yen as a safe-haven currency has been weak in the last three days. The levels to beat for bulls are at the 106.30 and 106.55 resistances.

USD/JPY News

Gold gives back territory towards a 23.6% retracement

Gold prices were a touch lower by the end of the week, falling -0.68% having travelled between a high of $1,528.00 to a low of $1,503.87, ending the NY session around $1,513. 

Gold News

Four Signs of A Bear Market

I am a believer that the Universe gives you signs. That may sound a bit crazy, but these three charts are three more signs of a bear market. The top chart is the GLD exchange traded fund.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •