- EUR/JPY steady into Tokyo.
- EUR/JPY firmer on dollar weakness.
EUR/JPY has failed three times below the 132.00 level in recent sessions, currently, EUR/JPY is trading at 131.16, down -0.07% on the day, having posted a daily high at 131.36 and low at 131.13. Risk-off sentiments have cooled down since Trump appeared more flexible on tariffs and the N.Korean risks abated on recent headlines. EUR/JPY bounced overnight from to 131.35 before peeling off back tot he downside and then into a sideways drift, pressuring 131.20 in the early Asian session.
US stocks lose the momentum
Asia's strong equity gains were followed by a cooler mood in Europe and North America with the S&P drifting lower to 2780 and the DJIA tailing off to 25156. USD/JPY was soft while the euro was firmer making for a steady decline in the cross.
EUR/JPY levels
Analysts at Commerzbank explained that EUR/JPY needs to regain the late February high at 132.18 in order to negate the move lower and to re-target the high from February 21 at 133.05 and the 55 day moving average at 133.86. "Minor support can be spotted at the March 8 low at 130.53. Below it lies the current March low at 129.35, unexpected failure of which would push the August low at 127.57 to the fore," the analysts added.
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
Editors’ Picks
AUD/USD turns south toward 0.6400 after mixed Australian jobs data
AUD/USD has come under renewed selling pressure and turned south toward 0.6400 after Australian employment data pointed to loosening labor market conditions, fanning RBA rate cut expectations and weighing on the Aussie Dollar.
USD/JPY remains below 154.50 amid weaker US Dollar
USD/JPY keeps losses for the second successive session, trading below 154.50 in Asian trading on Thursday. The pair is undermined by the latest US Dollar pullback, Japan's FX intervention risks and a softer risk tone.
Gold retreats as lower US yields offset the impact of hawkish Powell speech
Gold prices retreated from close to weekly highs during the North American session on Wednesday amid an improvement in risk appetite. The bullish impulse arrived despite hawkish commentary by US Federal Reserve officials.
OMNI post nearly 50% loss after airdrop and exchange listing
Omni network lost nearly 50% of its value on Wednesday after investors dumped the token following its listing on top crypto exchanges. A potential reason for the crash may be due to the wider crypto market slump.
US stock continue to stumble as traders rethink rates
US stocks grappled with uncertainty on Wednesday in the wake of a cautious string of commentary from the US Federal Reserve officials. The S&P 500 is currently experiencing its longest non-bullish streak in months.