The EUR/JPY pinged another 15-year high as a recovering Euro (EUR) takes another step over the Japanese Yen (JPY).
The EUR/JPY is squeezing into 161.80 as the Yen continues to slump against the Euro. ECB President Lagarde dual speeches today and tomorrow. Japan trade balance data missed expectations. European Central Bank President Christine Lagarde will be delivering a speech today and a speech tomorrow; today's speech will be at the House of the Euro, a collaborative working space for different European central banks. No significant comments on monetary policy are likely at the event.
Technical framework is strictly limited to pullbacks and any recovery patterns in the Yen, should they ever come. The pair saw some rough consolidation through the past four to five months, but the most recent bullish snap in the EuR/JPY is taking the pair further above the 50-day Simple Moving Average currently rising from the 158.00 handle, while current price action soars far above median prices near the 200-day SMA currently rising into 152.00.
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