The EURJPY pair dropped from 127 area to 122 on the back of a mix of technical and fundamental factors....
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 continues to fall and the pair is under threat from a triple-threat of issues, with struggling stocks, a...
The EURJPY cross trades with a bearish tone ever since it reached 127. Just like the EURUSD failing at the...
EURJPY has more room to fall, eyeing the all-important 120 level.
Triple top on the EURJPY points to lower levels.
The EURJPY pair dropped to an intraday low of 123.28, which is the lowest it has been since July 30th....
EURJPY triple top points to a bearish outlook.
The EURJPY has been boosted by the European Central Bank press conference after testing support at previous market highs.
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EURJPY trades in a tight range for the entire summer. More or less, it followed on the EURUSD footsteps, a...
The EURJPY pair found support so far on each and every dip. Everybody in the currency market talked about the...