EUR/JPY breaks 15-year high

On Tuesday, the EUR/JPY pair made a significant move towards EU Retail Sales figures, hitting a 15-year high at 161.00. With a 2.8% decrease, Japan’s overall household spending for the year through September fell short of forecasts.

With an improvement in the month-over-month figure, the market anticipates more declines in the long tail of the data. In September, Annualized Retail Sales are predicted to be -3.2%, up from August’s YoY of -2.1%. The MoM figure is anticipated to increase from -1.2% to -0.2%.

In relation to the Yen, the pair has closed four straight green days. Technical indicators are in their midranges due to recent chart congestion between 160.00 and 158.00, and momentum has been waning.