Daily Forex News by XtremeMarkets.com

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EUR/JPY Slides Down as Investors Keep an Eye on German GDP Data

EUR/JPY is going down today, hovering in the mid-180s. Sellers are showing up as the Japanese Yen gets a little boost from talk about possible government intervention. Still, the pair isn’t dropping much—everyone’s just waiting to see what Germany’s latest GDP numbers have to say.

Intervention Talk Puts Yen in the Spotlight 

There’s been a fresh round of intervention rumours, and that’s helped the Yen. Japan’s finance minister made it clear they’re ready to step in if the currency gets too wild. Other officials have hinted at the same thing. They don’t want the Yen to get too weak and mess with the economy. Meanwhile, the Bank of Japan hasn’t ruled out a rate hike in December. Governor Ueda pointed out the obvious: a weaker Yen pushes inflation higher, and inflation’s already been running above target for years. So, between intervention talk and the chance of a rate hike, the Yen’s got some support, which keeps EUR/JPY from climbing.

 

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NZD/USD Goes Down Toward 0.5700 While Breaking the Short-term Barrier

On the last Wednesday in November, the NZD/USD gained momentum, going up more than 1%, sitting near 0.5690 in Asia’s session. This time, it climbed past the nine-day EMA, hinting at fresh short-term power. But let’s be real—the bigger trend still points down. The daily chart makes that obvious, so investors aren’t exactly piling in right now.

A bit of calm shows up in the short-term signals; however, the 50-day EMA still hangs above, holding back buyers. The nine-day EMA now acts as a support zone. For real change, buyers need to break past that 50-day level; without it, slipping back remains likely, particularly if NZD/USD fails to hold recent gains.

Support Levels Hold as Buyers Test the Waters

The RSI (Relative Strength Index) holds near 52 – steady and it’s climbing slowly, hinting at gains if demand stays strong. Should momentum fade, watch 0.5650 as a support level, along with the nine-day EMA  at about 0.5640. If those give way, sellers could push harder toward the support at 0.5550. A breakdown past that opens room for another leg down to April’s bottom around 0.5485. The multi-year low in April, which is close to 0.5485, may be revisited by traders.

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