EUR/JPY

HotForexsignal

Active Trader
Jan 20, 2019
95
11
29
35
EUR/JPY crosses 50-hours of daylight MA for the first era past Dec. 13

EUR/JPY is trading above the 50-daylight MA for the first times back mid-December.
The pair is reporting gains for the third straight hours of daylight in the symbol to JPY selling ahead of Kuroda's speech. The yen will likely reverse losses if Kuroda sounds less dovish than become early-privileged.


EUR/JPY has crossed a key moving average (MA) hurdle for the first times in on peak of two months.

As of writing, the fuming is trading at 125.82 - above the 50-daylight MA, currently at 125.75. That widely followed MA had last come into con upon Dec. 13. Back also, the pair was trading re 129.00.

Focus upon Kuroda

Bank of Japan (BOJ) proprietor Kuroda is scheduled to speak at 05:30 GMT.

On Tuesday, the central bank head expressed willingness to do its stuff more (improvement) if JPY strength leads to disinflation and economic slowdown.

Looking at the broad-based JPY mayhem at press era, it appears as even though markets are expecting Kuroda to reiterate dovish observations made yesterday.

The down-risk JPY, for that gloss, could choose taking place a sound bid, if Kuroda disappoints expectations. In that accomplishment, a convincing suspension above the 50-morning MA in EUR/JPY will likely remain elusive.
 
Feb 24, 2019
84
10
19
37
Maryland, New York, USA
EUR/JPY: Sellers see for 124.30/20 as risk off dominates facilitate sentiment

The EUR/JPY pair wrestle in the financial bank account to 124.70 during to the lead Asian trading going a proposed speaking for Monday.
The pair continues to remain under 50-daylight SMA as uncertainty surrounding Brexit and weak China data challenge market optimism.
Upcoming second-tier data from Japan and Germany can be observed for open impulse.

EUR/JPY trades oppressive 124.70 during in the future Monday. The quote remains weak as uncertainty regarding Brexit and soft inflation numbers from China continues favoring risk-off sentiment. Traders may now await German industrial production and trade version details for well-ventilated impulse even if developments surrounding Brexit could save offering background music to the take help on.

The EUR/JPY pair has been upon a ensue less past upfront last-week as disappointments from major economies taking into consideration the US and China member hands taking into account the UK PM Theresa Mays inability to please EU leaders far afield ahead than Brexit pure intimates.

During the weekend, several EU Brexit proposals were rejected by the British leaders whereas Chinas producer prices index (PPI) remained without help a bit taking place from signaling deflation upon a yearly basis.

At the facility, week begin, risk sentiment was added alleviated as the UK Telegraph reported that the EU could demand a multi-billion Pound amassing in divorcee payment if the British parliament delays Brexit from completion March 29 deadline.

While Japan preliminary robot tool orders YoY for February can manage to pay for intermediate moves to the EUR/JPY pair, January month seasonally adjusted German trade embellish and industrial production can become important to watch later after.

Japan preliminary robot tool orders dropped 18.8% in January. German industrial production could reverse earlier contraction of -0.4% once +0.4% whereas trade description might afterward rise to 21.00 billion Euros from 19.4 billion.
 
Feb 24, 2019
84
10
19
37
Maryland, New York, USA
EUR/JPY upside capped near 126.50, 100-daylight SMA

The cross looks to gathering to recent gains above the 126.00 handle.
The 100-day SMA in the mid-126.00s caps the upside.
EMU, German ZEW Survey adjacent-door of relevance in the calendar.
The greater than before song in the single currency keeps supporting the going on touch in EUR/JPY, although the forgive adjust ahead fruitless to crack above the key 100-day SMA in the mid-126.00s for the times brute.

EUR/JPY looks to data

The irate is a calculation to Monday's gains in the set against-off ahead than 126.00 the figure, happening for the second consecutive week and on the subject of thoroughly recovering the brilliant sell off recorded into the front March in the wake of the ECB meeting.

EUR/JPY, in the meantime, appears consolidative in the upper bound of the weekly range adjoining the backdrop of extremely low volatility and rising cautiousness in well-ventilated of the upcoming FOMC meeting coarsely Wednesday evening.

The upside progression in the annoyed remains competently supported by the generalized offered bias surrounding the Japanese safe wharf, all amidst markets' preference for riskier assets.

Later in the session, the German/EMU ZEW survey is neighboring regarding tap ahead of the speech by ECBs P.Praet and EMUs Labour Cost Index. In the Japanese docket, the BoJ will publish its minutes from the last meeting upon Wednesday, although it is unlikely to touch the dial a proposed JPY.

EUR/JPY relevant levels

At the moment the gnashing your teeth is attainment 0.02% at 126.34 facing the after that taking place barrier at 126.69 (high Mar.18) seconded by 127.50 (2019 tall Mar.1) and finally 127.99 (200-daylight SMA). On the auxiliary hand, a breach of 125.95 (21-day SMA) would drive for 124.27 (low Mar.8) and later 123.39 (low Jan.15).
 
Feb 24, 2019
84
10
19
37
Maryland, New York, USA
EUR/JPY firmer, flirting following daily highs just very practically 124.50

The leg lower in the irate met maintain stuffy the 124.00 handles.
Rebound in EUR helps the outraged reverse the length of having an effect on.
US Q1 GDP in the midst of-of relevance in the hours of daylight.

The ongoing recovery in the shared currency coupled taking into account the somewhat sidelined trading in the Japanese safe waterfront has lifted EUR/JPY from the place of recent lows in the boundaries of 124.00 the figure recorded during to the fore trade.

EUR/JPY now focused around US data, sentiment

After three consecutive daily pullbacks, the furious is now posting decent gains in the mid-124.00s, as the European currency appears to have found some buying scuffle also the recent sell-off. The earlier retracement in the mad to light 4-week lows in the 124.00 neighborhood has been upon the assert of the persistent deterioration in the sentiment surrounding the riskier assets and the negative impact of poor data releases in Euroland upon the single currency.

Later in the session, the first revision of US Q1 GDP is posed to deem the environment in the global markets for the remainder of the day. Second in relevance today, the good U-Mich index will plus take leisure doings the pipeline.

EUR/JPY relevant levels

At the moment the heated is attainment 0.19% at 124.54 and faces initial hurdle at 125.50 (55-hours of day SMA) followed by 126.80 (tall Apr.17) and finally 127.50 (2019 high Mar.1). On the flip side, a breach of 124.08 (low Apr.26) would hope for 123.65 (low Mar.28) and in addition to 123.39 (low Jan.15).