Tin tức thì trường
28.10.2024, 05:14

EUR/JPY bulls await move beyond 166.00, 200-day SMA breakout in play amid notable JPY weakness

  • EUR/JPY jumps to a three-month top amid the heavily offered tone surrounding the JPY.
  • Japan’s political development raises doubts over more BoJ rate hikes and weighs on the JPY.
  • Bets for aggressive ECB policy easing undermine the Euro and cap the upside for the cross.

The EUR/JPY cross opens with a modest bullish gap on Monday and touches a three-month top during the Asian session, albeit it struggles to capitalize on the move beyond the 166.00 mark. Spot prices currently trade around the 159.65-159.70 region, up over 0.75% for the day, and now seem to have confirmed a bullish breakout above a technically significant 200-day Simple Moving Average (SMA). 

The loss of a parliamentary majority for Japan's ruling coalition in weekend elections adds to a layer of uncertainty over the Bank of Japan's (BoJ) rate-hike plans. This, along with a generally positive risk tone, weighs heavily on the safe-haven Japanese Yen (JPY) and turns out to be a key factor that provides a goodish lift to the EUR/JPY cross. That said, the recent verbal intervention by Japanese authorities holds back the JPY bears from placing aggressive bets. 

In fact, Japan's Economy Minister Ryosei Akazawa said on Friday that it is important for currencies to move in a stable manner reflecting fundamentals and that a weak yen has various impacts on the economy. This comes on top of the comments from Japan's vice finance minister for international affairs, Atsushi Mimura, earlier this month, saying that excess volatility in the market is undesirable and that authorities are closely watching FX moves with a high sense of urgency.

Apart from this, some safe-haven demand stemming from the ongoing conflicts in the Middle East and the risk of a broader war in the region acts as a tailwind for the JPY. The shared currency, on the other hand, is undermined by firming expectations for a more aggressive policy easing by the European Central Bank (ECB) amid signs of easing inflationary pressures and economic weakness. This contributes to keeping a lid on the EUR/JPY cross and warrants caution for bulls. 

Nevertheless, a breakout and acceptance above the very 200-day SMA, for the first time since late July supports prospects for a further near-term appreciating move. This, in turn, suggests that any intraday pullback might be seen as a buying opportunity and remain limited near the said resistance breakpoint amid absent relevant market-moving economic releases and ahead of the BoJ monetary policy meeting later this week.

Japanese Yen PRICE Today

The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Euro.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   0.12% 0.17% 0.32% 0.07% 0.31% 0.40% 0.23%
EUR -0.12%   0.16% 0.13% -0.05% 0.26% 0.27% 0.11%
GBP -0.17% -0.16%   0.80% -0.09% 0.17% 0.20% 0.21%
JPY -0.32% -0.13% -0.80%   -0.18% -0.65% -0.67% -0.57%
CAD -0.07% 0.05% 0.09% 0.18%   0.19% 0.26% 0.16%
AUD -0.31% -0.26% -0.17% 0.65% -0.19%   -0.02% -0.15%
NZD -0.40% -0.27% -0.20% 0.67% -0.26% 0.02%   -0.18%
CHF -0.23% -0.11% -0.21% 0.57% -0.16% 0.15% 0.18%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote).

 

© 2000-2024. Bản quyền Teletrade.

Trang web này được quản lý bởi Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Thông tin trên trang web không phải là cơ sở để đưa ra quyết định đầu tư và chỉ được cung cấp cho mục đích làm quen.

AML Website summary

Cảnh báo rủi ro

Giao dịch trên thị trường tài chính (đặc biệt là giao dịch sử dụng các công cụ biên) mở ra những cơ hội lớn và tạo điều kiện cho các nhà đầu tư sẵn sàng mạo hiểm để thu lợi nhuận, tuy nhiên nó mang trong mình nguy cơ rủi ro khá cao. Chính vì vậy trước khi tiến hành giao dịch cần phải xem xét mọi mặt vấn đề chấp nhận tiến hành giao dịch cụ thể xét theo quan điểm của nguồn lực tài chính sẵn có và mức độ am hiểu thị trường tài chính.

Chính sách bảo mật

Sử dụng thông tin: sử dụng toàn bộ hay riêng biệt các dữ liệu trên trang web của công ty TeleTrade như một nguồn cung cấp thông tin nhất định. Việc sử dụng tư liệu từ trang web cần kèm theo liên kết đến trang teletrade.vn. Việc tự động thu thập số liệu cũng như thông tin từ trang web TeleTrade đều không được phép.

Xin vui lòng liên hệ với pr@teletrade.global nếu có câu hỏi.

Chuyển khoản
ngân hàng
Feedback
Hỏi đáp Online E-mail
Lên trên
Chọn ngôn ngữ / vùng miền