EUR / JPY Analysis

EUR / JPY Analysis

• EUR / JPY is moving away from its highest level around 125.60 +1 year.
• Industrial production in the euro area increased further in June.
• Non-Agricultural Employment and Unemployment Rates in the USA are on the agenda.

The emerging trend in the European currency is pushing EUR / JPY to retreat from the high of the last few months in the 125.55 / 60 band. After three consecutive sessions with earnings (including summits at levels last seen in April 2019 in the 125.60 region), EUR / JPY is losing value amid renewed selling pressure in the currency. The recovery in the dollar has been putting some pressure on the euro since the start of the finishing session of the week. The euro's overbought conditions also encouraged sellers to come out. Later in the NA session, attention will be on Non-Farm Payrolls and unemployment rates in July. In the euro zone, German Industrial Production extended its recovery in June and was up nearly 8% from a month ago. The same trend was observed in the results of Spain and France, which continued to improve in the sector.