EUR/JPY Live News

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EUR/JPY

Jan. 31, 2023

Weak sentiment sees Euro-Yen posting 0.11% loss

Live - Updated 99 minutes ago.

Euro-Yen weakened earlier in the day, before moving away from its 140.74 low and recovering back to 141.32.

Germany Unemployment Change beat analyst expectations of 5,000 and the previous reading of -13,000 with new data of -15,000.

While price action maintains a negative bias, Italy 10-Year BTP Auction released today at 10:10 UTC with a figure of 4.28, while the previous figure was 3.96. Data for Euro Zone GDP released today at 10:00 UTC is better than expected with 0.1, but worse than previous figure of 0.3.

EUR/JPY made an initial break below its 50 day Simple Moving Average at 141.48, a possible indication of a forthcoming negative trend.

Overall, the technical analysis landscape suggests that on the balance of probability, Euro-Yen is expected to maintain its bearish bias.

In the meantime, negative performances are seen in other pairs, USD/CHF closed at 0.9151 (down 1.07%). After ending yesterday's session at 1.653, GBP/CAD lost 141 pips and is trading around 1.6389. USD/CAD falls 0.6% to trade around 1.3304.

Furthermore, Euro Zone Consumer Price Index is expected tomorrow at 10:00 UTC. Euro Zone ECB Press Conference set for tomorrow at 13:45 UTC. Italy Consumer Price Index figure is projected at 0.1%. It previously stood at 0.3%; data will be released tomorrow at 10:00 UTC.

Euro-Yen has gained 1.43% since its lowest print of 125.05 earlier this year.

Some social media takeaways for Euro-Yen:

The euro zone economy grew 0.1% in the last quarter of 2022, avoiding a recession despite an energy price crunch and rising interest rates https://t.co/KPSCVTAEhT pic.twitter.com/TyF45XtcN2
— Reuters Business (@ReutersBiz) January 31, 2023

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Week to date

Euro-Yen ends yesterday stable around 141.32 .

A good end to the trading week, EUR/JPY is up to 141.32, after closing yesterday at zero. Overall, a 0% move or 14,132 pips this week. (Trade Euro-Yen with FXTM now).

On the flip side, data for Germany Unemployment Change published today at 08:55 UTC came out at -15,000, beating projections of 5,000 and showing improvement over the preceding figure of -13,000. Highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2.

At the same time, Italy 10-Year BTP Auction released today at 10:10 UTC with a figure of 4.28, while the previous figure was 3.96. Data for Euro Zone GDP released today at 10:00 UTC is better than expected with 0.1, but worse than previous figure of 0.3. GDP in Euro Zone fell short of market expectations (2.2%) with a reading of 1.9%, continuing the decline from the previous figure of 2.3%.

Furthermore, the market is looking at Euro Zone Deposit Facility Rate (Feb) is scheduled for Thursday. Euro Zone Interest Rate figure is projected at three. It previously stood at 2.5; data will be released Thursday. Euro Zone Consumer Price Index figure is projected at 9%. It previously stood at 9.2%; data will be released tomorrow at 10:00 UTC.

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