Black Pipper

Forex Dreamers

EUR/JPY at the 2-week high above 118.00

The recovery in US yields is driving sales higher against the JPY and so the EUR / JPY is climbing above the critical 118.00. The pair suffered losses for 7 days in a row, as it retreated from nearly 300 pips from its monthly high of 120.00.

Investors are now focusing on the developments surrounding the US-China trade war, as discussions are set to continue at high levels in early October. France’s September inflation data was disappointing as the CPI fell -0.3% on a monthly basis. From the US, PCE, durable goods and personal income/expenditure orders are next.

Technical Levels

S1  118.17

S2  118.13

S3  118.09

 

R1  118.24

R2  118.29

R3  118.32

 

 

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