Free Trial

Inches Higher, Remains Within Monday's Range

EURJPY

EUR/JPY remains trapped within the prior day's range, last sits +8 pips at Y126.40. It's a Gotobi day in Japan, which may limit the yen in the absence of other catalysts.

  • German Cll'r Merkel is expected to hold a press conference at some point today to announce the decision on extending lockdown measures beyond the current deadline set for Jan 10. Bild reported that the authorities have agreed for an extension through the end of the month.
  • Meanwhile, Italy decided to extend and expand its coronavirus curbs to mid-Jan.
  • On the topside, focus falls on Y126.79, the upper end of yesterday's range. A breach of that level would open up Dec 29 high of Y127.23. On the flip side, a dip through the 23.6% retracement of the Oct 30 - Dec 29 rally at Y125.09 would support the bearish case.
  • German retail sales and unemployment as well as flash French CPI headline the EZ docket today.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.