Apr. 2, 2021
While EUR/JPY is on a 10 days up trend Today's session might suggest a slow down – the Euro/Yen is sliding down from 130.27 to 130.16, taking a 11 pip loss (0.09%).
This limbo state for Euro/Yen is reflected by market data published as data for Japan CFTC JPY speculative net positions was released today at 8:30 PM suggests a downwards trend of -59,500, while previous data was -53,500. Euro Zone CFTC EUR speculative net positions were released with a new figure of 73,700, This is down from preceding data of 93,300. The Euro Zone Manufacturing PMI came out at 62.5, above the estimate of 62.4. This is also a step forward from the previous data of 57.9.
As the day reaches an end, a chart visual study suggests the Euro/Yen resistance level is at 130.39. Asset volatility analysis shows that the upper Bollinger band is at 130.73, indicating a downward move might be next.
Overall, looking at the technical analysis landscape, it seems the Euro/Yen is likely to start pointing downward in the short term.
Other markets showed mixed performance as an all-time high for the S&P as it climbed to 4,020.63. The Pound/Yen hit 153.08, highest price in 2 years.
Euro/Yen social media highlights: