EUR/JPY surges due to fundamentals

Note: This section contains information in English only.
Source: Dukascopy Bank SA


This morning, at 09:00 GMT, the higher than expected Euro Zone Consumer Price Index Estimate caused a reversal of an ongoing decline of the Euro against peer currencies. The markets took in high inflation as a reason for the European Central Bank to be more hawkish and reduce the supply of the Euro more than previously planned.

Afterwards, as the news spread and a surge was ongoing, it was boosted by Goldman Sachs. Around 14:00 GMT, the bank announced and spread through news agencies information that it expects the European Central Bank to hike its base interest rates by 0.75% instead of the previously expected 0.50%.

The EUR/JPY currency pair moved above the resistance of the weekly R2 simple pivot point and the 139.50 mark. A continuation of the surge might encounter resistance in the 140.00 and 140.50 levels, prior to reaching the weekly R3 simple pivot point. On the other hand, a decline of the Euro against the Yen could look for support in the passed weekly R2, the 139.00 mark and the approaching 50-hour simple moving average.
Back to articles

Actual Topics

Wed, 31 Aug 2022 17:00:48 GMT

AUD/USD reveals support zone

On Tuesday morning, the AUD/USD currency exchange rate adjusted to a USD surge, which was attributed to high US job openings data. During the pair's decline, it reached the 0.6840/0.6845 zone, which has continued to act as support on Wednesday. In the meantime, a potential recovery encountered resistance in the 0.6900 mark. A decline below 0.6840/0.6845 range could find support in

Wed, 31 Aug 2022 14:51:58 GMT

Gold reaches support at 1,710.00/1,715.00

The price for gold has hit the 1,710.00/1,715.00 zone, as the 50-hour simple moving average has provided enough resistance for the commodity price to decline. In the meantime, it was spotted that the price has been declining in a channel down pattern since August 25. At mid-day on Wednesday, the support zone held and a recovery approached the combination of

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.