The EUR/JPY pair is continuing to lift as the Yen recedes into calm Asia waters, testing 133.25. What else does this 25 April EURJPY Fundamental Outlook disclose?
25 April, GKFX – The Euro has been steadily advancing against the Yen through April after reaching a bottom of 128.95 in March. The pair went deeply bearish in February as traders piled into the Yen on market-wide fears of higher rates brought on by inflation and trade war rhetoric that ramped up for several months.
The EUR has managed to stage a healthy recovery against the JPY and has scaled back over the 200-day SMA, though, February’s declines are still deeply priced in.
Wednesday has a quiet offering for macro data
Wednesday is a quiet affair for markets on the economic calendar, and the only scheduled events for the EUR are the French Consumer Confidence index for April at 06:45 GMT, expected to remain at the previous reading of 100, and the Swiss April ZEW Survey Expectations at 08:00 GMT, last seen at 16.7.
Japan saw the month-on-month All Activity Index come in exactly at expectations, printing a 0.4% after the previous showing of -1.1%, but the Yen was little disturbed in its quiet Wednesday trading.
25 April EURJPY Fundamental Outlook
On the H4 charts, the bullish trendline is still holding, and the new highs near 133.50 could see a small correction back into the previous swing high around the 133.00 major handle before continuing higher to challenge February’s opening prices of 135.50.
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