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Forex: EUR/JPY takes profit at 125.64 after German industrial production

The EUR/JPY is insisting on the upside during the European morning as the Yen shrinks its value and the Euro boosts on rising risk sentiment. Having regained the 125.00 ground on the European opening, the cross rose easily to 125.64 high ahead of German industrial production.

However, industrial production data in Germany was unchanged on the month of January (0.0% vs 0.5% expected) and YoY data fell a little more than expected, from -0.5% (revised from -1.0%) to -1.3% (consensus of -1.2%).

The EUR/JPY is currently taking profits post-release of data. “EUR/JPY has finally cleared its 20 day ma at 123.25 and short term downtrend - this suggests the market is resuming its up move and that we should see 125.36 challenged and taken out (high from 25th February)”, wrote analyst Karen Jones, eyeing the 127.71 February high.

Forex: USD/CHF trading near opening levels at 0.9226/30

The USD/CHF has fallen in recent minutes, moving into the threshold at negative territory as German data is digested by market participants Friday. While the marquee event of the day, i.e. payroll data is surely holding back some traders, the pair has managed to move during European trading and has settled at 0.9426/28.
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Germany: Annual Industrial Production decline accelerates in January

German Industrial Production fell 1.3% in January, down from the 0.5% drop registered the previous month, according to data released today by Destatis. Analysts expected slightly less decrease of 1.2%.
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