- EUR/JPY trades with minor losses on Friday in the Asian session.
- The Euro gains are limited on ECB view and mixed economic data.
- Yen losses grounds on dismal economic data and a state of emergency.
EUR/JPY edges lower on Friday in the Asian trading hours. The pair opened higher following the previous day’s upside momentum. However, fell quickly to touch an intraday low at 130.07
At the time of writing, EUR/JPY is trading at 130.09, down 0.02% for the day.
The European Central Bank’s (ECB released its strategic review meeting account which stated that the price stability was best maintained by aiming for a 2% inflation target.
In the meantime, ECB President Christine Lagarde warned about a fresh third wave of the COVOID-19 pandemic and its impact on the economy. The shared currency came under pressure following the comments.
The Consumer Confidence Sentiment came at -4.4 in July from the previous month -3.3 readings. The Eurozone Service Sentiment rose to a 14-year peak in July at 19.3, but below the market estimates of 19.9.
It is worth noting that S&P 500 Futures were trading at 4,377, with 0.77% losses.
On the other hand, the Japanese yen manages to hold the ground on its safe haven appeal amid rising coronavirus delta variants.
On the economic data front, Retail Sales grew at 0.1% in July, below the market expectations of 0.2%. The Jobless Rate unexpectedly edged down at 2.9%.
The Bank of Japan (BOJ) said that the central bank might be able to begin a debate on a strategy for hitting the price target near the end of 2021.
Meanwhile, Prime Minister Yoshihide Suga announced a state of emergency in Tokyo, to curb rising coronavirus infections.
As for now, traders await the Eurozone Gross Domestic Product (GDP) Rate and Inflation Rate to gauge the market sentiment.
EUR/JPY additional levels
|Today last price||130.16|
|Today Daily Change||0.00|
|Today Daily Change %||0.00|
|Today daily open||130.16|
|Previous Daily High||130.57|
|Previous Daily Low||129.9|
|Previous Weekly High||130.3|
|Previous Weekly Low||128.6|
|Previous Monthly High||134.13|
|Previous Monthly Low||130.04|
|Daily Fibonacci 38.2%||130.15|
|Daily Fibonacci 61.8%||130.31|
|Daily Pivot Point S1||129.85|
|Daily Pivot Point S2||129.54|
|Daily Pivot Point S3||129.18|
|Daily Pivot Point R1||130.52|
|Daily Pivot Point R2||130.88|
|Daily Pivot Point R3||131.18|
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.