EUR/JPY Live News

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EUR/JPY

Jun. 7, 2023

After three days of declines, Euro-Yen is up 60 pips today

Live - Updated 72 minutes ago.

After ending the previous trading day at 149.29, Euro-Yen went up to 150.2 only to drop back; still positive overall today, now trading at 149.9.

At the same time, Germany Industrial Production released earlier showed a marked improvement to 0.3% from the preceding data of -2.1%, but fell short of the 0.6% figure forecast by a consensus of market analysts. Euro Zone Retail Sales released earlier showed a marked improvement to 0% from the preceding data of -0.4%, but fell short of the 0.2% figure forecast by a consensus of market analysts. Germany Factory Orders released earlier showed a marked improvement to -0.4% from the preceding data of -10.9%, but fell short of the 3% figure forecast by a consensus of market analysts.

Despite posting gains so far today, EUR/JPY slid below its 21 day Simple Moving Average at 149.05 in earlier trade — an early indicator that a negative trend could be emerging.

Euro-Yen is likely to reverse course and start pointing downward in the short term.

Other currencies are also rising as having closed the previous session at 2.0429, GBP/NZD is up 0.82% today to currently trade at around 2.0597. EUR/NZD gained 0.7% and is now trading at 1.7715. Having closed the previous session at 173.38, GBP/JPY is up 0.53% today to currently trade at around 174.29.

Positive indicators for Euro-Yen are expected going forward as Japan GDP is projected to outperform its last figure with 0.4. It previously stood at zero; data will be released today at 23:50 UTC.

Also worthy of note, tomorrow at 09:00 UTC data for Euro Zone GDP will be released, with an expected decline to 1.2% from the preceding figure of 1.8%. Japan Current Account n.s.a. (Apr) will be released today at 23:50 UTC.

Euro-Yen is now trading 1.11% away from its significant high of 150.97 first tested 10 days ago.

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Week to date

Euro-Yen inches up to 149.9 (a 0% gain) after closing the previous session at zero .

A good end to the trading week, EUR/JPY is up to 149.9, after closing yesterday at zero. Overall, a 0% move or 14,990 pips this week. (Start trading Euro-Yen at FXTM today).

At the same time, Euro Zone Consumer Price Index released Thursday with a figure of 6.1%, while the previous figure was 7%. Germany Industrial Production released earlier showed a marked improvement to 0.3% from the preceding data of -2.1%, but fell short of the 0.6% figure forecast by a consensus of market analysts. Germany Factory Orders released earlier showed a marked improvement to -0.4% from the preceding data of -10.9%, but fell short of the 3% figure forecast by a consensus of market analysts. Japan Household Spending (MoM) (Apr) came out at -1.3, while a consensus of analysts was expecting 0.6. Japan Household Spending (YoY) (Apr) released Monday with a figure of -4.4, while the previous figure was -1.9.

Outlook for rest of the week: Positive indicators for Euro-Yen are expected going forward as Japan GDP is projected to outperform its last figure with 0.4. It previously stood at zero; data will be released today at 23:50 UTC.

Furthermore, the market is looking at Germany Consumer Price Index is expected Tuesday. Germany ZEW Economic Sentiment Index is expected Tuesday.

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