Triple top on the EURJPY points to lower levels.
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.
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.
Live EURJPY Chart
EURJPY News and Analysis
The EURJPY pair dropped to an intraday low of 123.28, which is the lowest it has been since July 30th. The pair is reacting to the Bank of Japan interest rate decision, the new Suga administration, and the weak inflation data from Europe. Similarly, the USDJPY and GBPJPY pair are...
EURJPY triple top points to a bearish outlook.
The EURJPY has been boosted by the European Central Bank press conference after testing support at previous market highs.
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EURJPY trades in a tight range for the entire summer. More or less, it followed on the EURUSD footsteps, a pair that kept trying at 1.20 and failed multiple times during the summer. The months-long consolidation led to the EURJPY forming two possible reversal patterns – a head and shoulders […]
The EURJPY pair found support so far on each and every dip. Everybody in the currency market talked about the weak USD over the summer, but an equally important story was the strong Euro. Euro outperformed its major peers too. The EURGBP hoovered close to the 0.90 level while the […]
EURJPY was lower as the market awaits retail sales data from the Eurozone this morning. The move lower is setting the Euro up for a third-straight daily loss versus the Japanese Yen after a good run of late. The pair pushed higher last week on news that Japanese PM Shinzo […]
The EURJPY pair made a U-turn on Monday. After falling from 126.50 to almost 125 on Friday on Shinzo Abe news that he steps down as Japan’s Prime Minister, the cross reversed on Monday, recovered all the losses, and put in a new high. Two factors drove the price action […]
A head and shoulders pattern on the EURJPY cross offers a tempting risk-reward ratio for aggressive traders. Forming at the top of a rising trend, head and shoulders’ measured moves often attract contrarian traders. The temptation is even higher ahead of a USD event. The Jackson Hole event is about […]
Bearish divergence on the EURJPY cross spells troubles for bulls.