Apr. 30, 2021
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.