EUR/JPY Weekly Analysis (week of 04-08/01)

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Weekly Summary

Euro/Yen is trading around 127.04 after starting the week at zero (up 0.%) .

The Euro/Yen green move took place amid mixed market indicators - Euro Zone Consumer Price Index fell short of the -0.2 projections, at -0.3 and marks no progress over the previous figure of -0.3. The German Unemployment Change released on Tuesday is better than expected at -37,000 but down from preceding data of -40,000 according to new data.

More data out today as the Euro Zone Unemployment Rate beat expectations of 8.5 with a new data release of 8.3. This is also a step forward from the previous data of 8.4. Data for France Consumer Spending was released today at 7:45 AM, suggests a downwards trend at -18.9, while previous data was 3.9.

The Euro dropped 0.38% (46 pips) to 1.2229. The New-Zealand Dollar lost 16 pips from the start of the session, trading at 0.724 levels.

Jan. 8, 2021

Euro/Yen rally ends: After three days of gains, it is down 0.27% today

(23:18) GMT

This downslide might be related to financial indicators data published earlier as the Euro Zone Consumer Price Index fell short of the -0.2 projections, at -0.3 and marks no progress over the previous figure of -0.3.

Meanwhile, data for the Euro Zone Unemployment Rate released today at 10:00 AM came out at 8.3, beating projections of 8.5 and showing improvement over the preceding figure of 8.4. Data for France Consumer Spending was released today at 7:45 AM, suggests a downwards trend at -18.9, while previous data was 3.9.

Taking a wider perspective, performance of these other symbols usually suggests a setback for the Euro/Yen as the Euro/Dollar dropped 0.38% (46 pips) to 1.2229. The Kiwi lost 16 pips from the start of the session, trading at 0.724 levels.

The upper Bollinger band was at 127.13, indicating a further downward move might be next. Overall, looking at the technical analysis landscape, it seems further drawbacks may be next for the Euro/Yen

Jan. 7, 2021

Euro/Yen drifts to 127.29 (a 0.22% gain) after starting the day at 127

(22:18) GMT

The Euro/Yen green move took place amid mixed market indicators – Euro Zone Consumer Price Index fell short of the -0.2 projections, at -0.3 and marks no progress over the previous figure of -0.3.

More data out today as German Factory Orders released yesterday at 7:00 AM is better than expected at 2.3 but down from preceding data of 3.3 according to new data. Euro Zone Retail Sales fell short of the -3.4 projections, to -6.1 and continued its downward trajectory from the previous figure of 1.4.

The Euro/Dollar lost 57 pips from the start of the session, trading at 1.2271 levels. The New-Zealand Dollar dropped 0.47% (34 pips) to 0.7257.

The Euro/Yen has just crossed the upper Bollinger band at 127.1, indicating further gains might be next. Overall, looking at the technical analysis landscape, it seems Euro/Yen likely to continue pointing upward in the short term.

The market is looking forward to France. Consumer Spending looks to be getting worse with an expected -15.1 while the preceding figure was 3.7, New data will be released today at 7:45 AM. Japan Household Spending (YoY) (Nov) expected to decline to -1.5, while its preceding data was 1.9, data will be available today at 11:30 PM. Japan Household Spending (MoM) (Nov) is expected to come out at -1.3 when it's released today at 11:30 PM, This is a decline from the preceding data which was 2.1.

Jan. 6, 2021

Euro/Yen up 67 pips, trading around 126.95

(21:18) GMT

The Euro/Yen green move takes place amid mixed market indicators – Germany's Unemployment Change released yesterday is better than expected at -37000 but down from preceding data of -40000 according to new data.

At the same time, German Retail Sales released yesterday was better than expected at 1.9 but down from the preceding data of 2.6 according to new data. The Euro Zone Services PMI released earlier showed an improvement to 46.4 from the preceding data of 41.7, but falls short of the projected 47.3.

A look at other markets shows behavior that usually indicates a green move for the Euro/Yen as the Euro/Dollar went up from 1.2253 to 1.233 (0.63% 77 pips). The New-Zealand Dollar is trading at 0.7294 after gaining 0.51%.

The upper Bollinger band is at 127, indicating a negative correction might be next. Overall, looking at the technical analysis landscape, it seems a reverse of course in the short term might be next for Euro/Yen

The market is looking forward to the Euro Zone ECB Monetary Policy Statement which is expected today at 12:30 PM. Euro Zone Retail Sales seems to be pointing downwards with an expected -3.4 while the preceding figure was 1.5, New data will be released today at 10:00 AM. Today at 7:00 AM, data for German Factory Orders will be released, with an expected decline to -1.2 from the preceding figure of 2.9.

Jan. 5, 2021

Euro/Yen holds at 126.26

(21:18) GMT

A mostly flat day so far for EUR/JPY ranging between 126.56 and 126 and is now at 126.26.

This in-between state for Euro/Yen is reflected by market data published as Germany Unemployment Change released yesterday at 8:55 AM is better than expected at -37000 but down from preceding data of -40000 according to new data. German Retail Sales released yesterday at 7:00 AM was better than expected at 1.9 but down from the preceding data of 2.6 according to new data. The Euro Zone Manufacturing PMI fell short of the 55.5 projections, at 55.2 and continued its downward trajectory from the previous figure of 55.5.

Meanwhile, mixed performances are seen elsewhere, as after a 2 year hiatus, Aussie is back at 0.7712 levels. The New-Zealand Dollar rallied beyond 0.7215 for the first time in 2 years.

The Euro/Yen is getting closer and is now only 35 pips from the support line at 125.91. Dipping below it might indicate further losses are ahead. At 126.3, Euro/Yen made an initial breakout below the 21 day Simple Moving Average. The upper Bollinger band is at 126.93, indicating a downward move might be next. Overall, looking at all the technical indicators, it seems the Euro/Yen might be pointing down in the short term.

Data to be released later might clear up some of the fog for the Euro/Yen as Today at 12:30 AM, data for Japan Services PMI will be released, with an expected decline to 47.2 from the preceding figure of 47.8. The Euro Zone Composite PMI is expected today at 9:00 AM. France HICP (MoM) (Dec) is scheduled for today at 7:45 AM.

Jan. 4, 2021

Euro/Yen crawls to 126.32 after starting the day at 125.98 (up 0.28%)

(21:18) GMT

Hesitant but green: from an earlier low of 125.98, EUR/JPY is up to 126.32, gaining 34 pips compared to 125.98 at the start of the day (0.28%).

More data out on Friday as Euro Zone Manufacturing PMI fell short of the 55.5 projections, at 55.2 and continued its downward trajectory from the previous figure of 55.5.

At the same time, Euro rallied beyond 1.2311 for the first time in 2 years. The Pound/Dollar rallied beyond 1.3684 for the first time in 2 years.

The Euro/Yen approaches the closest resistance line at 126.91 and is now only 58 pips away, crossing it might suggest further gains are ahead. At 126.3, Euro/Yen made an initial breakout above the 21 day Simple Moving Average. The upper Bollinger band is at 126.94, indicating a negative correction might be next. Overall, looking at the technical analysis landscape, it seems a reverse of course in the short term might be next for Euro/Yen

The market is looking forward to Projections for Germany's Retail Sales are set for a continuation of decline of -2 while the previous data was 2.6, Data will be released today at 7:00 AM. Germany's Unemployment Rate figure is projected at 6.1 while it previously stood at 6.1, data will be released today at 8:55 AM. Spain Unemployment Change is expected today at 8:00 AM.