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  • EUR/JPY is held up at a confluence of the 200 and 21-DMAs.
  • BoJ Minutes came with no surprises and the Yen is unchanged in the Tokyo open.  

EUR/JPY is resting-up on the confluence of the 200 and 21-day moving averages on Christmas Eve as markets move into the lull ahead of the New Year. EUR/JPY is currently  trading at 121.31 in a narrow 121.22 and 121.33 range.  

The last of the data has been released, with US Durable Goods overnight and the BoJ minutes  today just ahead of  the Tokyo open. The US data was a disappointment, and the US dollar was soggy as a result, which enabled the yen some stability  but the euro a bigger bid. which subsequently supported the cross.  

  • BoJ Minutes: No possibility that the momentum toward achieving the price stability target would be lost

As for the Bank of Japan’s minutes, they are as ever a little outdated and the market has already priced in the Summary of Opinions which was released  in November. More on that  here, but there was no market reaction.  

Meanwhile, its time for markets to close down for Xmas ahead of a shortened day in European and US markets, hence there will be no liquidity and very little chance of any unseen event on the  geopolitical front to upset prices until the New Year. There will be trading days in between  Xmas and the New Year, but unlikely to make any great shakes.  

EUR/JPY levels