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 […]
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 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, […]
Dynamic support refers to support that follows the prices – this is where the EUR/JPY sits, testing a rising trendline for the third time in a row. Technical traders say that the ability of price to keep coming to support will end up with the support eventually giving way. Therefore […]
The EUR/JPY cross hit a resistance while above 127, and, for the second time in a row, the market sends the cross lower. It appears that a possible double top formation at 127 spells troubles for bulls, with the eyes now at the previous resistance area that should act as […]
The EURJPY saw a strong rally this week after the news of a potential vaccine for coronavirus. The pair moved 225 pips higher to test the 125.00 level but has now pulled back towards 124.00. A move above the resistance level is still possible in the days ahead.
EURJPY has paused from the recent downtrend to trade near resistance at 122.30. The pair had fallen for 8 out of 9 sessions as traders watched Europe go back into lockdown and the U.S. election bring safe haven risk.
EURJPY in a double combination according to the Elliott Waves Theory.
The EUR to JPY (EURJPY) has tumbled to the lowest level since July 17 as traders react to the messaging by the Bank of Japan and the European Central Bank (ECB). The pair is trading at 122.00, which is substantially below the October high of 125. The BOJ and ECB […]