Looking for last-minute pips to end your week?
Check out EUR/JPY’s short-term range!
Before moving on, ICYMI, yesterday’s watchlist looked at EUR/NZD retesting a broken trend line resistance on the 1-hour time frame. Be sure to check out if it’s still a valid play!
And now for the headlines that rocked the markets in the last trading sessions:
Fresh Market Headlines & Economic Data:
ECB confirms the end of its bond buying in the third quarter as inflation surges
Euro hits two-year low on ECB interest rates caution
U.S. retail sales rise 0.5% in March amid rampant inflation
U.S. stocks slide as rising bond yields hit growth stocks
PBoC keeps rates unchanged as expected even as markets expect more monetary stimulus
Japan’s Nikkei tracks Wall Street lower, tech stocks drop
Upcoming Potential Catalysts on the Forex Economic Calendar:
U.K., German, and Canadian markets out on bank holidays
NY manufacturing index at 12:30 pm GMT
U.S. industrial production at 1:15 pm GMT
Use our new Currency Heat Map to quickly see a visual overview of the forex market’s price action! 🔥 🗺️
What to Watch: EUR/JPY
A lot of major financial markets may be closed today but that doesn’t mean we won’t see legit volatility in the next trading sessions!
EUR/JPY is trading just below the 137.00 psychological handle, which lines up with a range resistance that hasn’t been broken since late March.
Oh, and look at that! Stochastic is also on the bears’ side with an overbought signal!
Think EUR/JPY’s range will hold for another day today?
Traders who are still pricing in the ECB’s less hawkish announcement could drag the euro back down to the 136.50 area near the 100 SMA.
If yen sellers dominate today’s price action, though, or if U.S. session traders focus on USD/JPY buying today, tehn we could see EUR/JPY break above its range resistance.
What do you think? Which way will EUR/JPY go in the next trading sessions?
