EUR/JPY fades the move to the 118.00 area, returns to 117.40. Declining US yields lift the demand for JPY. Markets’ focus shifted to Brexit, trade and Fed’s Powell. The now buying pressure around the Japanese safe haven has forced EUR/JPY to recede from the proximity of the 118.00 handle to the current 117.40 region. EUR/JPY focused on trade, Powell’s speech After two consecutive daily gains, the cross is now reversing the positive streak and is shifting the attention to the lower end of the range in the 117.00 neighbourhood, which it has so far held the downside. Yields of the key US 10-year note have abruptly abandoned the area of daily highs near 1.60% after news cited the White House could be looking into capping the participation of Chinese stocks in the government fund. Later in the day, US Producer Prices are due seconded by the speech by Fed’s J.Powell at the NABE Conference in Denver. Earlier in the day, German Industrial Production expanded more than forecasted, supporting further the upbeat momentum surrounding the shared currency. EUR/JPY relevant levels At the moment the cross is retreating 0.19% at 117.43 and a breach of 117.07 (monthly low Oct.3/7) would expose 116.56 (low Aug.26) and finally 115.86 (2019 low Sep.3). On the other hand, the initial resistance emerges at 118.43 (55-day SMA) seconded by 120.01 (monthly high Sep.13) and then 119.98 (100-day SMA). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next White House looking to limit Chinese stocks within government pension fund – Bloomberg FX Street 3 years EUR/JPY fades the move to the 118.00 area, returns to 117.40. Declining US yields lift the demand for JPY. Markets' focus shifted to Brexit, trade and Fed's Powell. The now buying pressure around the Japanese safe haven has forced EUR/JPY to recede from the proximity of the 118.00 handle to the current 117.40 region. EUR/JPY focused on trade, Powell's speech After two consecutive daily gains, the cross is now reversing the positive streak and is shifting the attention to the lower end of the range in the 117.00 neighbourhood, which it has so far held the downside. Yields of the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.