EUR/JPY Live News

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EUR/JPY

Jul. 6, 2022

Euro-Yen is down by 0.77%, trading at 138.31

Live - Updated 48 minutes ago.

Euro-Yen drops from 139.38 to 138.31, losing 107 pips (0.77%) today.

Meanwhile, Germany 10-Year Bund Auction is released with a new figure of 1.22, this is down from preceding data of 1.33. Euro Zone Retail Sales (MoM) (May) released earlier shows an improvement to 0.2 from the preceding data of -1.4, but falls short of the projected 0.4. Germany IHS S&P Global Construction PMI (Jun) released today at 7:30 AM with a figure of 45.9, which is better than its previous number of 45.4.

A study of Euro-Yen's chart reveals various key levels to watch: the resistance level is at 139.68, followed by 143.87. Concerning technical analysis and more specifically, trend indicators, the MACD is significantly below its signal line which suggests that the existing bearish sentiment is beginning to swing around toward a more bullish outlook. Analysis based on the asset volatility indicates that Bollinger bands shows an indication of recovery: the lower band is at 139.29, a low enough level to, generally, suggest that Euro-Yen is trading below its value.

Technical analysis indicates that Euro-Yen's current downtrend might soon change course and start climbing up in the short term.

In the meantime, negative performances are also seen in other pairs as Euro-Dollar is currently exploring fresh lows at 1.0221, last seen around 5 years ago.

Positive performances can be seen by looking at other currencies as for the first time in 2 years, USD/SGD went above the 1.4 level.

In addition, Euro-Pound reaches 0.8557 (0.46%), adding to its six days of losses.

Some optimism can drawn from the fact that Euro Zone ECB Publishes Account of Monetary Policy Meeting scheduled to come out tomorrow at 11:30 AM.

The market will keep its eye on the following upcoming macroeconomics indicators: Japan Household Spending (YoY) (May) is projected to rise to 2.1, beating the previous -1.7 figure. Official data is expected tomorrow at 11:30 PM. Japan's new Current Account n.s.a. (May) data will be available tomorrow at 11:50 PM. Data is expected to decline to 186 billion from its previous value of 501 billion.

Having set a marker at a peak of 143.87 around 15 days ago, Euro-Yen is now trading 3.12% below this level.

Twitter highlights for Euro-Yen:

"Putin continues to use energy as a weapon—12 EU countries are affected by gas supply reductions.

We need coordination at the EU level: we will soon present a 🇪🇺 emergency plan."

President @vonderleyen at #EPlenary ↓ pic.twitter.com/tkmwWdSA2x
— European Commission 🇪🇺 (@EU_Commission) July 6, 2022

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Week to date

After ending the previous trading session at zero, Euro-Yen increases slightly to 138.31 (down 0%) .

Trading week at a glance - EUR/JPY is up to 138.31, after closing yesterday at zero. Overall, a 0% move or 13,830 pips this week. (Start trading Euro-Yen at FXTM today).

Euro-Yen's upside takes place amid mixed market indicators — Euro Zone CPI (YoY) (Jun) beats expectations of 8.4 with new data release of 8.6. This is also a step forward from the previous data of 8.1. Japan Tankan Large Manufacturers Index (Q2) published Thursday came out at nine, falling short of the 13 projections and continuing its decline from the previous 14 figure. Japan Tankan Large Non-Manufacturers Index (Q2) released earlier shows an improvement to 13 from the preceding data of nine, but falls short of the projected 14. Germany Unemployment Change (Jun) comes out at 133,000, better than analyst estimates of -6,000 and improving upon the previous reading of -4,000.

Meanwhile, Germany 10-Year Bund Auction is released with a new figure of 1.22, this is down from preceding data of 1.33.

Outlook for rest of the week: Positive Euro-Yen indicators are expected going forward as Euro Zone ECB President Lagarde speech is scheduled Friday. Euro Zone ECB Publishes Account of Monetary Policy Meeting is scheduled for tomorrow at 11:30 AM.

The market is looking forward to the release of new data: Japan's new Current Account n.s.a. (May) data will be available tomorrow at 11:50 PM. Data is expected to decline to 186 billion from its previous value of 501 billion.

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