EUR/JPY (week of 26-30/04)

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Weekly Summary

New 2 years high for Euro/Yen at 132.36 .

EUR/JPY is up to 131.44 having started the day at 130.56, overall a 0.67% move or 87 pips today.

The Euro/Yen green move comes while some more encouraging signs are out as Germany's Unemployment Change fell short of the -10,000 projections, at 9,000 and continued its downward trajectory from the previous figure of -6,000. The Germany Business Climate Index released earlier shows an improvement to 96.8 from the preceding data of 96.6, but falls short of the projected 97.8.

The Euro/Yen shows positive signs, other assets are also on par: after a 2 month hiatus, Euro is back at 1.215 levels. After a 2 month hiatus, the Kiwi is back at 0.7286 levels.

At the same time, GBP/CAD hits a 4 month low, as it drops to 1.7 USD/SGD hit a 2 month low, as it dropped to 1.3228

Apr. 30, 2021

Euro/Yen goes back up to October 2018 levels, reaching 132.19

(23:18) GMT

After starting the day at 132.05, EUR/JPY rallied to 132.19, hitting its highest point in 2 years, It later lost 75 pips and is now trading at 131.44

On the flip side, German Unemployment Change fell short of the -10,000 projections, at 9,000 and continued its downward trajectory from the previous figure of -6,000.

Meanwhile, released today at 7:30 PM, Japan's CFTC JPY speculative net positions showed an uptick coming in at -48,500, up from the previous number of -59,800. Released today at 7:30 PM, Euro Zone's CFTC EUR speculative net positions showed an uptick coming in at 81,000, up from the previous number of 80,800.

As the day reaches an end, a chart visual study suggests the Euro/Yen nearest support level is at 128.44. In terms of trend indicators, we can see that 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 131.74, indicating a further downward move might be next.

Overall, technical indicators suggest the Euro/Yen has no obvious direction for the immediate future.

In the meantime, negative performances are also seen in other symbols, The British Pound lost 138 pips (0.9%), making its largest single-day drop since September 2020. NZD/USD is trading around 0.7162 (down 82 pips).

Positive performance, however, can be seen looking at other symbols, as for the first time in 4 months, GBP/CAD fell below the 1.71 level.

At the same time, USD/HKD trading close to 7.7674, with no major change.

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