search
Install Now

An incredible cashback rate!
40% of the spread!

Join Now

Should We Be Wary of the Euro's Direction as It Weakens Against the Yen?

Market Report

Should We Be Wary of the Euro's Direction as It Weakens Against the Yen?

08.12.2022

Today's Highlights
  1. Remarks by Koji Tsuki, Deputy Governor of the Bank of Canada (BOC)
  2. Hungary: Consumer Price Index

In the previous day’s U.S. currency trading, the U.S. dollar weakened against the euro, and the EUR/USD pair rose from 1.0442 to 1.0548.From a technical perspective, the EUR/USD pair has entered an ascending pennant pattern on the 4-hour chart, with higher lows and lower highs. It will be worth watching to see if the pair breaks out of this ascending pennant after a period of consolidation.

Despite the fact that the final figures for the third-quarter GDP in the Eurozone, released yesterday, rose from the market forecast of 0.2% to 0.3% and exceeded the previous reading, the euro fell against the yen.After falling to 143.260, the euro/yen pair is trading around 143.500 during today’s Asian session. On the daily chart, the euro/yen pair continues its downward trend with the 20-day moving average acting as resistance, so traders should remain cautious of further declines during the European session.

Today's economic indicators include Swedish housing prices at 16:00, Hungary's Consumer Price Index and trade balance at 17:00,South Africa’s Q4 Consumer Confidence Index at 18:00, South Africa’s Current Account Balance at 18:00, South Africa’s Manufacturing Output and Canada’s Leading Economic Index at 20:00, ECB President Lagarde’s remarks at 21:00, Brazil’s Retail Sales andMexico: Consumer Price Index; at 10:30 PM: U.S. Initial Jobless Claims, Remarks by SNB Board Member Mekler; at 12:30 AM: U.S. Weekly Natural Gas Inventories; at 2:30 AM: Remarks by BOC Deputy Governor Kozitski.We should remain vigilant regarding the direction of the euro, which is showing signs of weakness against the yen.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Will the U.S. dollar, which has been rising slightly, continue its upward trend, or should we wait and see?

Next Article

All eyes are on whether the University of Michigan Consumer Sentiment Index will exceed the market forecast of 56.8.
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are paying close attention to this feature.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

line Received notification of a sudden price fluctuation (sharp rise or fall in the exchange rate)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings