Feb. 19, 2021
The EUR/JPY price varies between 127.73 and 127.74 and settles at 127.74.
This limbo state for Euro/Yen is reflected by market data published as Japan CFTC JPY speculative net positions released today at 8:30 PM with a figure of 37,200, This is better from the previous number of 34,600. Euro Zone CFTC EUR speculative net positions were released with a new figure of 140,000, This is down from preceding data of 140,200. The Euro Zone Manufacturing PMI beat expectations of 54.3 with the new data release of 57.7. This is also a step forward from the previous data of 54.8.
The Chart pattern study shows Euro/Yen reversed direction at 127.07 support zone and climbed 66 pips above it. In terms of trend indicators, we can see that at 127.76, Euro/Yen made an initial breakout below the 3 day Simple Moving Average, an indication of a negative trend. The CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Asset volatility analysis shows that the upper Bollinger band is at 128.25, indicating a downward move might be next.
Overall, technical indicators suggest the Euro/Yen has no obvious direction for the immediate future.
At the same time, mixed performances are seen elsewhere, as the Australian dollar is trading around 0.7872 after starting the session at 0.7773 (up 1.27%). EUR/AUD is down to 1.5395, losing 165 pips after opening at 1.556.
Euro/Yen social media highlights: