The EUR/JPY cross found strong support at the 130 round number. It is the second time in a row since the pair bounced from the area, forming a possible consolidation as the right shoulder of a head and shoulders pattern. The common currency looks vulnerable after the European Central Bank […]
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 Japanese yen pairs were one of the strongest currency pairs part of the FX dashboard in 2021. The EUR/JPY, in particular, traded with a bid tone, rising above 130 and stretching all the way up to 134. A bid behind the euro was partially to blame. The improved vaccination […]
The EUR/JPY cross pair is bearish while below the 134 level, where it met strong resistance. With only a few hours ahead of the ECB meeting and interest rate decision, the cross pair looks weak. The European Central Bank faces a tough decision today. On the one hand, hawks within […]
If there is one currency pair that traded with a bid tone this year, it is the EUR/JPY cross. The pair benefited from a weak yen as well as from a strong euro, and now threatens to break above 134. Consider yesterday, for example. The EUR/USD pair has a hard […]
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 […]
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 […]
[adrotate group=”3″] 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 […]
[adrotate group=”3″] 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 […]
[adrotate group=”3″] 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 […]
[adrotate group=”3″] 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 […]