EUR/JPY (week of 14-18/11)

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Weekly Summary

Uneventful markets sees Euro-Yen idling around 144.91 .

A good end to the trading week, EUR/JPY is up to 144.91, after closing yesterday at zero. Overall, a 0% move or 14,491 pips this week. (Trade Euro-Yen with FXTM now).

On the flip side, GDP in Japan fell short of market expectations (0.3) with a reading of -0.3, continuing the decline from the previous figure of 1.1.

Meanwhile, Japan National Core CPI (YoY) (Oct) came out at 3.6, while a consensus of analysts was expecting 3.5. Japan National CPI (MoM) released yesterday at 23:30 UTC with a figure of 0.6, while the previous figure was 0.3. Euro Zone Core Consumer Prices released yesterday at 10:00 UTC with a figure of 5%, while the previous figure was 4.8%. Japan Trade Balance (Oct) released Wednesday with a figure of -2.16 trillion, while the previous figure was -2 trillion.

Also worthy of note, Germany Business Climate Index is projected to outperform its last figure with 85. It previously stood at 84.3; data will be released Thursday.

Furthermore, the market is looking at Germany GDP figure is projected at 0.3. It previously stood at 0.3; data will be released Friday. Monday data for Germany Producer Price Index will be released, with an expected decline to 0.9% from the preceding figure of 2.3%.

Nov. 18, 2022

Weak sentiment sees Euro-Yen posting 0.31% loss

(23:18) GMT

Euro-Yen is grinding lower from 145.37 to 144.91, shedding 45 pips (0.31%) today.

Meanwhile, Euro Zone Consumer Price Index released yesterday at 10:00 UTC with a figure of 10.6%, while the previous figure was 9.9%. Fresh CFTC JPY speculative net positions data from Japan came out at -75,300. Euro Zone CFTC EUR speculative net positions came out at 107,600.

EUR/JPY made an initial break below its 50 day Simple Moving Average at 144.59, a possible indication of a forthcoming negative trend. Price action remains constrained around the key Fibonacci level of 144.93 currently serving as support. If price action breaks below, the next Fib hurdle is 144.25. On the other hand, note that Euro-Yen reversed direction at 144.92 support zone and climbed 1 pips above it.

Overall, looking at the technical analysis landscape, it seems Euro-Yen is likely to continue pointing down in the short term.

In the meantime, negative performances are seen in other pairs, EUR/NZD closed at 1.6777 (down 0.77%). EUR/GBP is down to 0.8685, losing 47 pips, after closing at 0.8733 in the preceding trading session.

Positive performances can be seen by looking at other currencies as GBP/CAD is up 0.63% to 1.5911.

Euro-Yen now trading 5.87% above its 3-month low of 125.05.

Some social media takeaways for Euro-Yen:

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