EUR/JPY Live News

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Jul. 23, 2021

Euro/Yen continues its uptrend, crawls up to 130.13

(23:18) GMT

Building up on 5 days of up trend, gaining a total of 0.743% – Today's session so far looks to be heading in the same direction – hesitant but green: from an earlier low of 129.47, Euro/Yen is up to 130.13 gaining 43 pips compared to the 129.69 start of the day (0.34%).

Uptick comes while some more positive signs for Euro/Yen are out as Euro Zone ECB Marginal Lending Facility comes out at 0.25, marks no change from preceding figure.

More data out yesterday as Euro Zone's Deposit Facility Rate (Jul) published yesterday at 11:45 AM came out at -0.5. The indicator value matched both the projected value and the previous data of -0.5. Euro Zone Interest Rate released yesterday at 11:45 AM with a figure of zero, while the previous figure was zero.

In terms of trend indicators, we can see that at 129.75, EUR/JPY made an initial breakout above 200 day Simple Moving Average, an indication of a positive trend. Asset volatility analysis shows that The lower Bollinger band is at 129, indicating further gains might be next. However Euro/Yen could be slowing down soon because its getting close and is now only 74 pips from resistance line at 130.87, yet crossing it might suggest further gains are ahead.

Overall, looking at the technical analysis landscape, it seems Euro/Yen likely to continue pointing upward in the short term.

Euro/Yen started the year by gaining 2.72%. Looking at the long term behavior shows Euro/Yen has been trading sideways for the last 1 year, 2 months.

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Week to date

Euro/Yen gains 155 pips to erase previous losses, trading higher at 130.13 after 4 months low .

A good end to the trading week, EUR/JPY is up to 130.13 having started the week at 129.66, overall a 0.35% move or 46 pips this week. (Trade Euro/Yen with FXTM now).

Uptick comes while some more positive signs for Euro/Yen are out as Euro Zone ECB Marginal Lending Facility comes out at 0.25, marks no change from preceding figure.

At the same time, Euro Zone's Deposit Facility Rate (Jul) published yesterday at 11:45 AM came out at -0.5. The indicator value matched both the projected value and the previous data of -0.5. Euro Zone Interest Rate comes out at zero, while the projection was zero. Japan CFTC JPY speculative net positions released today at 7:30 PM with a figure of -55,700, this is better from previous number of -56,300. Euro Zone CFTC EUR speculative net positions is released with a new figure of 45,800, this is down from preceding data of 59,700.

Outlook for rest of the week: Market is looking forward for Thursday data for Germany Unemployment Change will be released, with an expected decline to -20,000 from the preceding figure of -38,000. Germany Business Climate Index projected to outperform last figure with 102.5 while it previously stood at 101.8, data will be released Monday. Germany GfK Consumer Climate (Aug) expected to decline to -4, while its preceding data was -0.3, data will be available Wednesday.