EUR/JPY Live News

This page provides live coverage and news analysis on the EUR/JPY currency pair

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Mar. 3, 2021

Euro/Yen up 0.18%, trading around 129.18

Live - Updated 18 minutes ago.

Hesitant but green: from an earlier low of 128.9, EUR/JPY is up to 129.18, gaining 22 pips compared to 128.95 at the start of the day (0.18%). (Trade Euro/Yen with FXTM now).

The Euro/Yen green move takes place amid mixed market indicators – Germany's Unemployment Change published yesterday at 8:55 AM came out at 9,000, falling short of the -13,000 projections and continuing its decline from the previous -37,000 figure.

At the same time, Euro Zone's Consumer Price Index published yesterday at 10:00 AM came out at 0.9. The indicator value matched both the projected value and the previous data of 0.9. Released today at 12:30 AM, Japan's Services PMI showed an uptick, coming in at 46.3, up from the previous number of 46.1.

The Chart pattern study shows Euro/Yen immediate resistance is around 129.18, nearest support level is at 128.35. In terms of trend indicators, we can see that the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Asset volatility analysis shows that a slight indication of a slowdown comes from looking at the Bollinger bands: the upper band is at 129.53 – a high enough level to usually suggest the Euro/Yen is trading above its value.

Overall, the technical analysis suggests Euro/Yen is neutral for the immediate future, with no clear-cut direction.

A look at other markets shows behavior that usually indicates a green move for the Euro/Yen as HANG SENG INDEX is up 2.35% to 29,781 SSE is trading around 3,577 after starting the session at 3,508.59 (up 1.95%).

The market is looking forward to Euro Zone Retail Sales projected to come out at -1.1 – worse than previous data of two, Data will be released tomorrow at 10:00 AM. Spain Services PMI is projected to outperform the last figure with 43, while it previously stood at 41.7, data will be released today at 8:15 AM. The Euro Zone Composite PMI is projected to outperform last figure with 48.1 while it previously stood at 47.8, data will be released today at 9:00 AM.

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Week to date

After starting the week at 128.75, Euro/Yen up slightly to 129.18 (up 43 pips) .

Trading week in a glance - EUR/JPY returns to 129.18 after dipping down to 128.15. (Start trading Euro/Yen at FXTM today).

A look at other markets shows behavior that usually indicates a green move for Euro/Yen as new 7 month high for Dollar/Yen at 106.96. GBP/CAD hit 1.7778, highest rate in 11 months. Crude oil made its largest single-week drop ($3.17) since October 2020

At the same time, Gold fell to $1,708.4, hitting an 8 month low. At 1.5196, EUR/CAD is down to its lowest value in 8 months.