EURJPY

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Forex News – Eurozone services activity eases in June; euro pulls back from highs

Posted on June 23, 2017 at 11:48 am GMT

Activity across the Eurozone lost some momentum in June, however the region still managed to enjoy its best quarter in six years according to the latest PMI report from IHS Markit. Weaker growth in the services sector led to a drop in the composite PMI, which fell from 56.8 to 55.7 in June’s flash reading. This was below expectations of 56.6 and the lowest in five months. The services PMI also fell to a 5-month low, declining from 56.3 to [..]

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Forex Market Review (Asian Session) – Yen softer after BoJ makes no change to monetary policy or economic outlook; dollar holds onto post-FOMC gains

Posted on June 16, 2017 at 7:28 am GMT

The yen weakened after the Bank of Japan (BoJ) left monetary policy unchanged today while the US dollar remained firm after the Federal Reserve raised interest rates on Wednesday. The BoJ announced its decision to maintain its current monetary policy without making any tweaks, as was widely expected, since inflation in Japan is still very subdued. The main interest rate was kept at -0.1% and there was no change to its asset purchase program or yield curve control. Its economic [..]

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Technical Analysis – EURJPY consolidates below 124.00; uptrend still in place

Posted on June 12, 2017 at 2:16 pm GMT

EURJPY stalled the recent uptrend at 125.80 on May 16. The bias has turned neutral in the near-term. There is immediate resistance at 124.00. A breach above this level would see a re-test of the 125.80 high and from here bring about a resumption of the uptrend from 114.84 to 125.80. But looking at momentum indicators, there is risk to the downside, with RSI dipping below 50 and MACD sloping down. This reduces the odds for a bounce higher. Immediate [..]

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Technical Analysis – EURJPY may be reversing recent uptrend

Posted on May 30, 2017 at 8:26 am GMT

EURJPY has been consolidating near the key 124-yen level during the past three weeks and has been capped at 125.80, its highest level in about a year. After various attempts to rise higher, the pair has formed two peaks at 125.80, and it appears the market may be forming a double top pattern, which is usually a bearish reversal pattern. Negative RSI divergence suggests that a reversal in the recent uptrend is possible. After reaching overbought levels above 70, RSI has been [..]

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Forex Market Review (Asian Session) – Euro slips on dovish Draghi; yen gains on risk aversion

Posted on May 30, 2017 at 7:32 am GMT

The euro came under pressure on dovish comments from European Central Bank President Mario Draghi. The yen was supported by general risk off sentiment in the markets today. Safe haven gold saw another leg higher. Japan and Australia released economic data during the Asian session. The unemployment rate in Japan held steady near its lowest level in 20 years at 2.8% in April. Retail sales rose more than expected by 3.2% year-on-year in April and were up from a prior [..]

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Investment Theme – Euro rally overdone or start of new uptrend?

Posted on May 24, 2017 at 3:15 pm GMT

The euro’s relief rally following the receding threat of right- and left-wing populism in Europe after Macron’s election win in France has turned the euro to one of this year’s best performing currencies against the US dollar. The presidential election in France was seen as a key test for European political stability, as well as the fate of the European Union (EU). A victory for the far-right candidate, Marine Le Pen, could have boosted far right movements in other European [..]

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Forex Market Review (European Session) – Dollar slumps below 112 yen as gold surges; euro and pound extend gains

Posted on May 17, 2017 at 3:04 pm GMT

The US dollar remained under pressure in European trading on Wednesday as the political turmoil in the United States continued to dampen risk sentiment. The yen and the Swiss franc, along with gold, were the main winners from the risk aversion generated by the latest political uncertainty. The euro meanwhile held near its earlier highs and the pound also advanced higher versus the greenback. According to confirmed reports, a memo written by the then-FBI Director James Comey reveals President Donald [..]

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