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EUR/JPY Edges Lower, Brexit Talks To Take Centre Stage This Week

EURO-YEN

EUR/JPY has ebbed lower and last changes hands -23 pips at Y124.74. Bears look for a fall through Oct 6 low of Y123.86, which would open up Sep 29 & Oct 2 lows of Y123.03, which represents a key near-term support. On the flip side, bulls look for a jump above the 61.8% retracement of the Sep 1 - 28 sell-off at Y125.28, which would shift focus to Sep 15 high of Y125.77.

  • Talks between the UK & EU resume today, with the aim of crafting a Brexit deal ahead of Thursday's European Council summit. Per the latest source reports, some familiar sticking points remain, including the fishing rights.
  • Monday throws up a thin data docket in the Eurozone. ECB speaker slate features Lagarde, de Guindos, Schnabel, Villeroy & Panetta.

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