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June 22 - According to foreign media reports, sources revealed that the ruling coalition led by German Chancellor Merz is preparing to support a proposal for a comprehensive reform of Germanys pension system, including the introduction of a market-based savings mechanism, tightening early retirement rules, and gradually raising the retirement age. These recommendations, drafted by a government-appointed committee, will be submitted on Tuesday. The plan proposes a gradual introduction of supplementary pension contributions equivalent to 2% of total wages, which would be managed through a public fund vehicle and invested in the capital markets. The committee also recommends gradually raising the retirement age in line with increases in life expectancy. Furthermore, the proposal would abolish a popular early retirement pathway that allows workers who have contributed for 45 years to retire early. Pension reform is one of the most divisive issues in the coalition government, which has been in power for 13 months, and continues to test the long-standing policy differences between Merzs conservative wing and Klinkes Social Democratic Party.According to Reuters, Iranian sources say that negotiations between Iran and the United States in Switzerland have been suspended, but have not ended.According to Iranian state media, a spokesperson for the Iranian Foreign Ministry said that Sundays talks focused on ending the war, lifting sanctions, and releasing frozen Iranian funds.According to an Axios reporter, a diplomat involved in the talks said that the Iranian delegation did not leave and negotiations between the United States and Iran are still ongoing.On June 22, a member of the Iranian team involved in negotiations with the United States told Iranian state media on Sunday that a draft resolution regarding waivers for Iranian oil sanctions had been finalized. The person added that the waivers would be announced soon.

Price Analysis: EUR/JPY Daily Rising Wedge Targeting 143.00

Daniel Rogers

Nov 23, 2022 16:01

 截屏2022-11-23 上午9.53.21.png

 

The EUR/JPY continues to consolidate within an ascending wedge, after ending Tuesday with tiny losses of 0.04% due to a risk-on sentiment. At the start of the Asian trading session, the EUR/JPY exchange rate is 145.48, representing a slight gain of 0.01%.

 

As noted previously, a rising wedge emerged on the EUR/JPY daily chart, with the bulk of daily lows acting as dynamic support after the 50-day Exponential Moving Average (EMA). In spite of the fact that the cross continues to move steadily, there has been less price action during the past four days. This would suggest that the EUR/JPY exchange rate is stable or that a breakout is near.

 

If the EUR/JPY reaches 146.00, it could accelerate a rally toward the year-to-date (YTD) highs near 148.40; however, buyers must first overcome crucial resistance levels. The first is the rising wedge top trendline close to 146.50, followed by the 9 November daily high at 147.11. After the psychological 148.00 is reached, the next objective will be 149.00.

 

If the EUR/JPY breaks below the rising wedge, the 50-day exponential moving average (EMA) around 144.12 would provide first support. A breach of this level will expose the 143.00 level, followed by the November 11 swing low of 142.54.

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