(VIANEWS) – On Tuesday’s reversal, EUR/JPY rebounds off lows in the 128.90/85 range.
According to FXStreet, the weekly decline in EUR/JPY appears to have encountered good resistance around the 128.90/85 range thus far.
In reality, the current risk aversion appears to have faded, allowing for a small recovery in the risk complex, allowing the cross to get some oxygen around the 129.00 area.
EUR/JPY (EURJPY) is currently on bearish momentum. At 06:09 EST on Wednesday, 21 July, EUR/JPY (EURJPY) is at 129.5770, 1.73% down since the last session’s close.
EUR/JPY (EURJPY) Range
About EUR/JPY’s daily highs and lows, it’s 0.721% up from its trailing 14 days low of $128.65 and 1.072% down from its trailing 14 days high of $130.98.
EUR/JPY’s yearly highs and lows, it’s 6.541% up from its 52-week low and 3.391% down from its 52-week high.
EUR/JPY’s last week, last month’s, and last quarter’s current volatility was a negative 0.19%, a positive 0.06%, and a positive 0.53%, respectively.
EUR/JPY’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 0.25% (last week), 0.42% (last month), and 0.53% (last quarter), respectively.
Last news about EUR/JPY (EURJPY)
Eur/jpy sinks to 4-month lows near 129.00. According to FXStreet on Monday, 19 July, “The buying pressure in the Japanese safe haven coupled with solid demand for the greenback forces EUR/JPY to drop further and record new 4-month lows near 129.00.”, “The firm note on both the Japanese safe haven and the dollar against the backdrop of persistent risk aversion and lower US yields collaborate to drag EUR/JPY lower and open the door to a potential re-test of the critical 200-day SMA near 128.30. ”
Eur/jpy tracks US treasury yield rebound to regain 129.00. According to FXStreet on Tuesday, 20 July, “It’s worth mentioning that a fresh seven-day lockdown in South Australia, as well as an extended activity restriction period of a week for Victoria, keeps EUR/JPY sellers hopeful. “, “Moving on, EUR/JPY traders may take intermediate clues from the ECB Bank Lending Survey but major attention will be given to the risk catalysts, mainly relating to the covid, China and US stimulus.”
Eur/jpy price analysis: rising bets for a test of the 200-day SMA. According to FXStreet on Tuesday, 20 July, “The weekly downside in EUR/JPY gathers extra steam and breaks below 129.00 for the first time since mid-March.”, “Below the latter, the outlook for EUR/JPY is seen shifting to bearish (from constructive).”
Eur/jpy clings to daily gains around 129.00. According to FXStreet on Tuesday, 20 July, “The weekly downside in EUR/JPY seems to have met decent contention in the 128.90/85 band so far.”
Eur/jpy price analysis: the bulls are digging in their heels. According to FXStreet on Tuesday, 20 July, “Supporting the bullish outlook, the S&P 500 is headed higher at the time of writing and there is a close correlation between EUR/JPY and the US stock market:”
News about USD/JPY
Usd/jpy bears seeking a test of 109.80s. According to FXStreet on Monday, 19 July, “On Friday, USD/JPY initially rose from 110.00 to 110.34 before falling to 110.04 as the bulls ran out of steam due to a risk-off turn on Wall Street.”, “In fact, the 60-day correlation between USD/JPY and US 10-yearyields is at the highest since June 2020.”
Usd/jpy trades with modest gains around mid-109.00s, upside seems limited. According to FXStreet on Tuesday, 20 July, “A goodish rebound in the US equity futures turned out to be a key factor that undermined demand for the safe-haven Japanese yen and extended some support to the USD/JPY pair. “, “Adding to this, diminishing odds for an imminent Fed action in the near future might act as a headwind for the greenback and collaborate to cap gains for the USD/JPY pair.”
According to DailyForex on Sunday, 18 July, “For the month of July, we forecasted that the EUR/USD currency pair will fall in value, while the USD/JPY currency pair will rise in value. ”
Usd/jpy retakes 110.00 after Japan’s government maintains overall economic view. According to FXStreet on Monday, 19 July, “The uptick in USD/JPY could be mainly linked to a fresh leg higher in the US dollar across the board, as risk-aversion deepens in the European session.”, “At the press time, the US dollar index rises to daily highs of 92.79, up 0.10% on the day while USD/JPY was last seen changing hands at 110.03, recovering most losses.”
Usd/jpy recovers modestly after dropping to multi-week lows near 109.00. According to FXStreet on Monday, 19 July, “Meanwhile, the benchmark 10-year US Treasury bond yield is losing more than 7%, making it difficult for USD/JPY to erase its losses.”
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