(VIANEWS) – EUR/JPY bids rise to 129.20, approaching the lowest since late March, in early Tuesday trading. The pair appears to be tracking US Treasury rates in order to depict a corrective pullback from a multi-day low.
According to FXStreet, US 10-year Treasury rates rose 2.8 basis points (bps) to 1.209 percent at the time of publication. As a result, the risk barometer has rebounded from a five-month low amid conflicting signals.
While the positives surrounding US stimulus may have favored the bulls to take a riskier entrance, the coronavirus troubles and US-China squabbles appear to be weighing on the mood.
EUR/JPY (EURJPY) is currently on bullish momentum. At 11:06 EST on Wednesday, 21 July, EUR/JPY (EURJPY) is at 130.0910, 0.52% up since the last session’s close.
EUR/JPY (EURJPY) Range
Regarding EUR/JPY’s daily highs and lows, it’s 0.579% up from its trailing 24 hours low of $129.34 and 0.466% up from its trailing 24 hours high of $129.49.
EUR/JPY’s yearly highs and lows, it’s 6.963% up from its 52-week low and 3.008% 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 looks firmer and reaches 130.00, 3-day highs. According to FXStreet on Wednesday, 21 July, “The selling pressure in the Japanese currency keeps the recovery in EUR/JPY well and sound on Wednesday.”, “After a brief drop to new 4-month lows near 128.50 on Tuesday, EUR/JPY managed to regain buying interest on the back of the moderate recovery in US yields and the eventual selling bias in the Japanese yen.”
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 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. “, “Although lows marked during April and early July guard short-term EUR/JPY upside around 129.60-65, 200-DMA around 128.40, followed by March’s low near 128.30, become tough nuts to crack for the pair bears.”
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 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 trades with modest gains around mid-109.00s, upside seems limited. According to FXStreet on Tuesday, 20 July, “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.”, “The USD/JPY pair, for now, seems to have stalled its recent sharp pullback from YTD tops, around the 111.65 region and was supported by a combination of factors.”
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.”
According to FXStreet on Tuesday, 20 July, “Infections were detected also in the Olympic Village in Tokyo, yet the yen has benefited as a safe-haven currency, with USD/JPY hovering around 109.50.”
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