EUR/JPY is showing a slight upward movement, hovering around 164.10 in Tuesday’s early European trading session. The Japanese Yen (JPY) has received some support due to verbal intervention from Japanese authorities, which could limit the potential gains of the EUR/JPY pair in the short term. Market participants are keenly awaiting March’s Tokyo Consumer Price Index (CPI) data, scheduled to be released on Friday. Currently, the cross is up by 0.01% for the day.

The Japanese Yen has weakened despite the Bank of Japan’s recent interest rate hike. However, Masato Kanda, Japan’s Vice Minister of Finance for International Affairs, remarks that addressing the yen’s excessive weakness has led to a slight recovery in the JPY, posing a challenge for EUR/JPY.

On the other hand, expectations of a rate cut by the European Central Bank (ECB) have increased following the Swiss National Bank’s recent decision to lower borrowing costs. ECB policymakers, including Fabio Panetta and Philip Lane, have hinted at the possibility of interest rate cuts due to rapidly falling inflation and slowing wage growth.

Upcoming economic indicators include the German Gfk Consumer Confidence Survey for April and ECB Chief Economist Philip Lane’s speech on Tuesday. Later in the week, market participants will focus on German Retail Sales data for February and the Tokyo CPI inflation figures for March.


Today last price164.08
Today Daily Change-0.01
Today Daily Change %-0.01
Today daily open164.09
Daily SMA20162.71
Daily SMA50161.66
Daily SMA100160.42
Daily SMA200158.96
Previous Daily High164.21
Previous Daily Low163.32
Previous Weekly High165.36
Previous Weekly Low161.95
Previous Monthly High163.72
Previous Monthly Low158.08
Daily Fibonacci 38.2%163.87
Daily Fibonacci 61.8%163.66
Daily Pivot Point S1163.54
Daily Pivot Point S2162.98
Daily Pivot Point S3162.64
Daily Pivot Point R1164.43
Daily Pivot Point R2164.77
Daily Pivot Point R3165.32

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