HFM information and reviews
HFM
96%
Octa information and reviews
Octa
94%
FXCC information and reviews
FXCC
92%
FxPro information and reviews
FxPro
89%
FBS information and reviews
FBS
88%
Vantage information and reviews
Vantage
85%

EUR/JPY reverses recent losses and retake 129.00


9 March 2021

EUR/JPY regains the smile above the 129.00 mark. US yields lose momentum and weigh on the dollar. EMU's flash Q4 GDP came in at -0.7% QoQ, -4.9% YoY. The moderate correction lower in US yields prompt a knee-jerk in the dollar and spark a rebound in the risk-associated galaxy on turnaround Tuesday.

EUR/JPY higher on eur-buying

EUR/JPY reverses two consecutive daily pullbacks and manage to regain some upside traction in response to the moderate rebound in the single currency. In fact, the better mood around the euro comes in tandem with the corrective downside in US yields, which in turn triggers a move lower in the buck.

Furthermore, yields of the US 10-year reference dropped to the 1.52% area during early trade after surpassing the 1.60% level at the end of last week, area last traded in February 2020.

In the Japanese docket, Q4 GDP figures showed the economy expanded 2.8% QoQ during the October-December period and 11.7% when comes to annualized figures. Both prints came in below estimates. In the euro area, the German trade surplus widened to €22.2 billion in January, while advanced GDP figures for the broader Euroland noted the economy is now seen contracting 0.7% QoQ and 4.9% from a year earlier.

EUR/JPY relevant levels

At the moment the cross is gaining 0.33% at 129.36 and faces the next resistance at 129.87 (2021 high Feb.24) followed by 130.00 (psychological level) and then 130.14 (monthly high Nov.7 2018). On the other hand, a drop below 128.18 (weekly/monthly high Mar.2) would aim for 127.30 (low Feb.17) and finally 127.11 (50-day SMA).

#source

Share: Tweet this or Share on Facebook


Related

EURJPY Re-Enters Bullish Channel, Supported by 200-Day SMA
EURJPY Re-Enters Bullish Channel, Supported by 200-Day SMA

EURJPY has staged a comeback following a period of weakness during which it temporarily fell below its established bullish channel, originating in June. The resurgence is primarily attributed to the pair's...

23 Jan 2024

Crucial Upside Barrier at 160.00 Mark in Focus Amid Geopolitical Tensions
Crucial Upside Barrier at 160.00 Mark in Focus Amid Geopolitical Tensions

The EUR/JPY currency pair finds itself under pressure during the early European session on Friday as geopolitical tensions in the Middle East weigh on market sentiment...

12 Jan 2024

EURJPY's Ascending Trajectory: Balancing Highs with Emerging Risks
EURJPY's Ascending Trajectory: Balancing Highs with Emerging Risks

As the EURJPY pairing continues its impressive ascent, reaching levels not seen since August 2008, investors and traders alike are met with a mix of enthusiasm and caution...

14 Nov 2023

Japanese Economic Outlook: Anticipating Impact of GDP and BoJ Decisions on Market Dynamics
Japanese Economic Outlook: Anticipating Impact of GDP and BoJ Decisions on Market Dynamics

As global financial markets gear up for the upcoming release of Japan's Q3 GDP report on Wednesday at 01.50 GMT, expectations and speculation are high...

13 Nov 2023

EURJPY Analysis: BoJ's Dovish Tone Sparks Momentum, Yet Resistance Looms
EURJPY Analysis: BoJ's Dovish Tone Sparks Momentum, Yet Resistance Looms

The EURJPY currency pair has emerged as a focal point in the forex market, following recent developments from the Bank of Japan (BoJ) and the subsequent shifts in the technical landscape...

1 Nov 2023

Navigating Euro Fluctuations Amidst the Yen's Uncertain Strength
Navigating Euro Fluctuations Amidst the Yen's Uncertain Strength

The international currency landscape is undergoing a subtle yet significant transformation, as evidenced by recent movements in the US Dollar and the ensuing repercussions on the EURJPY pair...

6 Oct 2023


MultiBank Group information and reviews
MultiBank Group
84%
XM information and reviews
XM
82%
FP Markets information and reviews
FP Markets
81%
FXTM information and reviews
FXTM
80%
AMarkets information and reviews
AMarkets
79%
BlackBull information and reviews
BlackBull
78%

© 2006-2024 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.