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Forex: EUR/JPY up at 122.45/50, looking higher

The EUR/JPY regained 122.00 ground yesterday and after a period of consolidation there, the cross jumped on the European opening, facing 122.45/50 as resistance.

Italy's Producer Price Index has already been released, down by -0.4% (MoM) in January. The annualized figure eased from 1.8% to 0.7%, instead of staying unchanged as expected.

French imports narrowed from €43.044B to €42.597B in January and exports also eased, from €37.626B to €36.735B, leaving the trade deficit widening from €-5.4B to €-5.9B, instead of narrowing to €-4.8B as expected.

Mataf.net analysts point to resistance at 123.20 and 123.75, while supports are at 121.85, 121.15 and 120.35.

Forex: USD/JPY testing the 94.00 level

After bottoming out in the 93.79 region (session low) during the overnight session, the USD/JPY has pared the majority of its losses to retest the 94.00 barrier in these moments. Despite this movement higher, the pair still trades negatively Thursday, settling a tepid -0.06% off its opening still.
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