EURJPY was lower by 0.50% on the day as the market awaits European inflation data. The pair was trading above...
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 EURJPY is the subject of today’s technical outlook watch that aims to use multiple time-frame analysis to derive possible...
The EURJPY has been boosted by the European Central Bank press conference after testing support at previous market highs.
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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...
The European Central Bank (ECB) is meeting tomorrow in what will be remembered as Mario Draghi’s final meeting as ECB...
Dynamic support refers to support that follows the prices – this is where the EUR/JPY sits, testing a rising trendline...
The EUR/JPY pair forms a triangle against strong resistance and is in danger of putting a double top pattern. The...
The Nikkei 225 and other Asian stock indices traded higher today mimicking the performance of Wall Street last night. But the JPY is leading currencies. In fact, EURJPY presents a strong technical setup for a sell.
The EURJPY cross trades with a bearish tone ever since it reached 127. Just like the EURUSD failing at the...
Triple top on the EURJPY points to lower levels.