Fundamental Analysis of EUR/JPY for July 30, 2018 888011000 110888 EUR/JPY is currently residing at the edge of 129.50 location from where it is expected to press higher once again with the target towards 132.00 area in the future. JPY having straight gains because it bounced off the 132.00 location was expected to inject more bearish momentum in the set whereas the present formation is indecisive.As of the currentECB Interview, EURO is expected to lose some momentum as the interest rates are anticipated to stay unchanged till Summertime 2019 and Brexit impact along with Trade War stress. Ahead of the series of financial reports to be released this week on EURO, today EURO Spanish Flash CPI report was released with slight reduction to 2.2%which was expected to be the same at 2.3% and German Prelim CPI report is yet to be released which is anticipated to reveal an increase to 0.4 %from the previous value of 0.1%. Today JPY Retail Sales report is released with a boost to 1.8%from the previous worth of 0.6 %which was expected to be at 1.7 %. Regardless of the considerable development on the Retail Sales, JPY cannot sustain the momentum whereas EUR is currently rather spontaneous with the bullish momentum.As of the current situation, ahead of the BOJ Policy Rate tomorrow, the set is anticipated to be rather unpredictable but a daily close today will supply the needed information for the upcoming momentum in the market whereas the JPY Joblessness Rate, BOJ Policy Rate and Monetary Policy Declaration tomorrow is expected to have greater influence on the gains over JPY in the process.Now let us look at the technical view. The price has been bearish with straight everyday candles pressing the price to 129.50 location however today the impulsive bullish pressure has already engulfed a portion of previous bearish pressure which if closed above 129.50 with an impulsive bullish candle light is expected to inject more bulls in the market resulting further bullish pressure in the market with target towards 132.00 location. As the cost stays above 129.50 location, the bullish bias is anticipated to continue.SUPPORT: 129.50 RESISTANCE: 132.00 BIAS: BULLISH MOMENTUM: VOLATILE AND IMPULSIVE The material has been supplied by InstaForex

By | July 30, 2018

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