- EUR/JPY moves higher and surpasses the 130.00 level.
- The Japanese yen remains offered and helps with the upside.
- US ISM Manufacturing, Initial Claims next on tap in the docket.
The persistent offered fashion around the Japanese yen keeps collaborating with the upside momentum in EUR/JPY on Thursday.
EUR/JPY in weekly peaks, looks to data
EUR/JPY advances for the third session in a row and manages well to return to the area above the psychological barrier at 130.00 the figure, always amidst the continuous selling bias surrounding the Japanese currency.
The yen remains on the back footing despite yields of the US 10-year reference now appear to have stabilized in the lower end of the range around 1.71%, coming under some downside pressure after clinching levels last seen over a year ago near 1.80% earlier in the week.
In the euro docket, the final manufacturing PMI in Germany and the euro area came in at 66.6 and 62.5, respectively, for the month of March, confirming once again the high morale in the sector. Early in the Asian trading hours, Japan’s Tankan Large Manufacturers Index improved to 5 in Q1 and the Tankan Large Non-Manufacturers Index bettered to -1 in the same period.
In the US data space, the Challenger Job Cuts dropped to 30.603K in March, shrinking more than 86% from a year earlier. Later in the NA session, the ISM Manufacturing will take centre stage seconded by Initial Claims and the final March Manufacturing PMI.
EUR/JPY relevant levels
At the moment the cross is gaining 0.18% at 130.05 and faces the next hurdle at 130.66 (2021 high Mar.18) seconded by 131.00 (psychological level) and then 131.98 (2018 high Jul.17). On the other hand, a drop below 128.29 (weekly low Mar.24) would expose 128.20 (50-day SMA) and finally 126.89 (100-day SMA).
Share
