Black Pipper

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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

Also read  Citi predicts the rise of the key rate of the Central Bank to 5-5.25% by the end of the year

 

 

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