EURJPY got a boost today after weak Japanese inflation figures combined with stronger PMI data from Germany and the Eurozone....
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.
October Services PMI data disappointed, but the EURJPY continues to trade with a bid tone. The cross pair found support...
The EUR to JPY (EURJPY) price is down for the second consecutive day as traders remain concerned about the upcoming...
EURJPY has moved lower this week as we head into today’s crunch EU summit in Brussels. After closing the week...
This week so far has been pretty slow, but the EURJPY pair is one that moved. It was rejected after...
The EURJPY pair failed at resistance with a sell-off yesterday and weaker data from the Eurozone couldn’t reverse the losses....
EURJPY was lower by 0.50% on the day as the market awaits European inflation data. The pair was trading above...
EURJPY bearish outlook points to a move below 120.
The EURJPY was 0.5% higher on Tuesday despite the release of German inflation that showed a further drop below zero....
The recent reversal on the EURJPY pair came as a result of a triple top around the 127 area. Such...