(VIANEWS) – The sentiment around the euro currency is influenced by the better dollar note. It also helps to correct the downside of EUR/JPY, which will be reopened Tuesday.
FXStreet reports that EUR/JPY has lost its grip after two consecutive daily gains. This is due to the return of dollar demand and decreasing US yields.
However, markets seem to be back in a risk-off mode, which forces riskier assets to lose a part of their recent gains. Market participants are still cautious ahead of Wednesday’s FOMC meeting.
After two consecutive daily gains, EUR/JPY now loses its hold and falls below the crucial 130.00 level, as dollar demand resumes and US rates fall.
The risk-off attitude appears to have returned to the markets, forcing riskier assets to give up some of their recent gains, as market participants remain cautious ahead of the FOMC meeting on Wednesday.
EUR/JPY (EURJPY) is currently on bearish momentum. At 07:10 EST on Wednesday, 28 July, EUR/JPY (EURJPY) is at 129.7870, 1.77% down since the last session’s close.
EUR/JPY (EURJPY) Range
Concerning EUR/JPY’s daily highs and lows, it’s 0.884% up from its trailing 30 days low of $128.65 and 1.811% down from its trailing 30 days high of $132.18.
EUR/JPY’s yearly highs and lows, it’s 6.713% up from its 52-week low and 3.234% down from its 52-week high.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, EUR/JPY’s Forex is considered to be overbought (>=80).
Last news about EUR/JPY (EURJPY)
Eur/jpy price analysis: upside still capped by 130.20. According to FXStreet on Monday, 26 July, “In the meantime, while above the 200-day SMA at 128.47, the outlook for EUR/JPY is expected to remain constructive.”
Eur/jpy price analysis: decent contention aligns near 128.50. According to FXStreet on Tuesday, 27 July, “After a failed attempt to break above the 130.30 area, EUR/JPY comes under selling pressure and slips back below the 130.00 mark on turnaround Tuesday.”, “In the meantime, while above the 200-day SMA at 128.50, the outlook for EUR/JPY is expected to remain constructive.”
Eur/jpy looks offered, returns to the sub-130.00 area. According to FXStreet on Tuesday, 27 July, “The better note in the dollar weighs on the sentiment surrounding the European currency and collaborates with the ongoing corrective downside in EUR/JPY on turnaround Tuesday.”, “After two consecutive daily advances, EUR/JPY now loses the grip and recedes to the area below the psychological 130.00 mark amidst the resumption of the dollar demand and diminishing US yields.”
News about EUR/USD
Eur/usd breaks above 1.1800, prints fresh daily highs. According to FXStreet on Monday, 26 July, “The EUR/USD broke above 1.1800 and climbed to 1.1816, reaching the highest level since Thursday. ”
Eur/usd holds gains above 1.1750 amid risk on mood, USD slips. According to FXStreet on Monday, 26 July, “At the time of writing, the EUR/USD pair is trading at 1.1772, up 0.01% for the day.”
More news about EUR/JPY (EURJPY).