Overall, Euro weakness remains on the cards, but other factors could decide its short-term direction. Ahead of the speech by...
EURJPY
On this page, you will find news and analysis of the EURJPY pair. You will also find a live and advanced technical analysis chart for the EUR to JPY exchange rate.
What is the EURJPY?
EURJPY is the financial symbol of the exchange rate between the Euro and the Japanese yen. It is typically categorized under “crosses” and is considered as a minor currency pair, this is because it does not involve the US dollar. Regardless of this label, however, EURJPY is one of the most popularly traded currency pairs because both the euro and the yen are also held as currency reserves by economies all over the world; just like the US dollar.
Related currencies: EURUSD – EURCHF – EURGBP.
Thus, you will notice that the spread or the cost in trading EURJPY is lower than other crosses. It is also a volatile, a feature that attracts forex traders as it allows them to trade more frequently.
What Factors Drive the EURJPY?
The price of EURJPY is largely dictated by announcements from the European Central Bank (ECB) and the Bank of Japan (BOJ). These are the monetary authorities that decide on the interest rates of the eurozone and Japan that consequently affect the euro and the yen directly.
Economic news from the eurozone like GDP, CPI, PMI reports, and employment data also tends to have a significant impact on the currency pair. On the other hand, economic reports from Japan do not spark much volatility on EURJPY. This is probably because Japan has been stuck in a decades-long deflation. On top of that, BOJ has one of the most expansionary policies among major central banks and Japanese policymakers are rarely able to catch market participants off-guard.
Lastly, in EURJPY investing, the trader must also be aware of sentiment analysis. The Japanese yen is regarded as a safe haven asset. This means that it tends to perform well on news that raises concerns among investors (such as political uncertainty, war, and signs of slower global growth). On the other hand, the Japanese yen tends to weaken in times of risk appetite or when investors are driven by their need to make higher returns on their investments. Understanding market sentiment will help the trader be better in forecasting the direction of EURJPY.
The EUR/JPY pair is slightly lower after Eurozone inflation data largely met expectations. The monthly and annualized figures for the...
After the positive Japanese economic data, the EUR/JPY price formed a hammer pattern on Friday morning. It rose to a...
The EUR/JPY extended its surge on Thursday, gaining 1.2% after the European Central Bank (ECB) surprised the markets with a...
The euro is collapsing as concerns about the Eurozone economy continue. The EUR/JPY pair crashed to a low of 137.14,...
The EUR/JPY price has surged to the highest point since 2015 as the Japanese yen sell-off intensifies. The EUR to...
The EUR/JPY is down 0.52%, as the bulls take a back seat at the site of a previous high, setting...
The EUR/JPY cross found strong support at the 130 round number. It is the second time in a row since...
The Japanese yen pairs were one of the strongest currency pairs part of the FX dashboard in 2021. The EUR/JPY,...
The EUR/JPY cross pair is bearish while below the 134 level, where it met strong resistance. With only a few...