Oct 20, 2022

VOT Research Desk

The EUR/JPY reverses Wednesday’s downward price movement and reclaims the region above 147.00, which is closer to the 2022 top. The cross’s current price movement suggests that there is still room for more gains.

Having said that, the top price from December 2014 at 149.78 appears to be the immediate goal (December 8)

The positive trend is anticipated to continue in the near term as long as it remains above the October lows at 141.00.

In the long run, the cross should continue to have a positive view as long as it is above the crucial 200-day SMA at 136.76.

Oct 14, 2022

VOT Research Desk

On Friday, the euro retains its sturdy stance in comparison to the damaged Japanese yen. The pair’s rebound from earlier this week’s lows of fewer than 141.00 has now gone over 144.00, with September’s top, at 145.45, in sight.

The common currency has gained about 2.5% this week as a result of the general Japanese yen’s depreciation.

With the USD/JPY hitting a 34-year high on Friday, the yen is underperforming when compared to its key competitors.

The fact that the dollar has actually surpassed the level that the Bank of Japan intervened at last month has investors on high alert. Suzuki, the finance minister for Japan, reaffirmed the government’s resolve to acting against excessive currency volatility on Thursday.

The difference in monetary policy between the Fed and BoJ is exerting significant downward pressure on the yen.

The Federal Reserve is anticipated to raise interest rates by 0.75% for the fourth consecutive month in November, and most of the major central banks are now in a severe monetary tightening cycle.

The ultra-expansive monetary policy of the Japanese central bank is crushing demand for the yen.

Sep 28, 2022, 10:00PM+7:00

VOT Research Desk

Analytical Viewpoint

Daily Pivots: (S1) 138.52; (P) 139.03; (R1) 139.45;

For the time being, EUR/intraday JPY’s bias is neutral. If 137.32 is broken on the negative, the drop from 145.62 to the next important support level of 133.38 would resume.

But on the upside, a break of 142.28 will shift the bias back up for a retesting of the 145.62 high.

In the big picture, the upward trend from 114.42 (2020 low) could continue until 145.62 high as long as 133.38 support holds.

Afterward, aim for 149.76. (2015 high). However, a sustained breach of 133.38 will signal a medium-term bearish reversal and cause a faster decline to the support level of 124.37.