EUR/JPY - This is the forex quote for the Euro vs. Japanese Yen exchange rate. EUR (the 'base currency') is quoted in terms of JPY (the 'counter currency'). The Yen is a historically low-yielding currency, making an attractive vehicle to fund carry trades (where traders borrow cheaply in JPY to buy higher-yielding currencies, including EUR. Investors tend to favor carry trades at times of optimism about global economic performance and stability; they shun them at times of market stress. This makes EUR/JPY sensitive to swings in broad-based market sentiment trends. The pair may likewise find volatility in news-flow related to the Eurozone debt crisis as well the extraordinary anti-deflation policy efforts from the Bank of Japan introduced in 2013.

Support & Resistance

Dollar and Yen Crosses Threatening Full-Blown Bear Trends
S1121.94 S R3125.52 M
S2121.25 M R2124.40 M
S3119.90 S R1123.50 S


Dollar and Yen Crosses Threatening Full-Blown Bear Trends

The Yen crosses were upended by the Bank of Japan's decision to hold steady. USDJPY and key pairs stand on the verge of a more systemic bear trend.
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Analyst picks

Walker England   

Forex Trading Instructor

My Picks: EUR/JPY Short Pending Breakout
Expertise: Technical Analysis
Average Time Frame of Trades: 1 Day - 1 Week

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