The euro started the trading month on a strong note, and the EUR/JPY pair reflects it perfectly. The pair declined in the last trading day of April, only to reverse the weakness today and to pressure the highs again. However, bulls should be aware of a massive rising wedge forming […]
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 EUR/JPY pair appears to have broken out of a horizontal consolidation that resembles a bullish flag. According to the pattern, the measured move points to much higher levels than the current ones. It is not surprising because the euro traded with a bid tone lately. The failure of the […]
The EUR/JPY pair forms a triangle against strong resistance and is in danger of putting a double top pattern. The more time passes without a clear break of this triangle to the upside, the more the sellers will pressure the cross. A triangle like the one seen below typically builds […]
One of the most interesting trading setups in March 2021 came from the EUR/JPY market. The pair formed a rising wedge pattern that broke lower. Moreover, the market retested the lower edge before diving some more. Also, a bearish divergence with the RSI existed at the time the wedge broke […]
The EUR/JPY cross trades with a bullish tone as the recent rally extends beyond 130. A few days ahead of the Bank of Japan’s decision, the JPY remains offered across the board, as all JPY pairs rallied recently. At this week’s meeting, the Bank of Japan signaled that it intends […]
The EUR/JPY exchange rate is one of the most popular currency pairs among retail traders. It moves based on the differences between the two majors – the USD/JPY and the EUR/USD exchange rates. Recently, it almost reached the psychological 130 level, without breaking it. As such, the chances are that […]
The EUR/JPY cross pair looks bearish here, both from a technical and fundamental perspective. On the one hand, the technical picture reveals a downward channel and a head and shoulders pattern. On the other hand, the fundamental picture tells us that the ECB will increase the asset purchases under the […]
The EUR/JPY cross pair broke higher out of a triangular pattern that resembles a pennant. While the price did not reach the measured move yet, it did move out of a rising channel, a move that typically suggests overbought levels. The JPY pairs are all bid across the dashboard as […]
The EUR/JPY cross was one of the top-performing currency pairs since the 2020 stock market drop. Ever since it bounced and formed what appears to be a rising wedge pattern. The Euro remains well bid, especially against the JPY and the USD. Other Euro pairs do not witness the same […]
The EUR/JPY cross is at the year’s highs. It consolidated for the entire month-and-a-half so far in 2021 and recently popped higher. It appears that the market formed a symmetrical triangle that broke recently and now guns for the measured move. However, such triangles typically have a limited price action, […]