EUR/JPY

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

EUR/JPY
EUR/USD Slips Despite Euro-Zone Unemployment Beating Forecasts
S1120.27 W R3125.00 S
S2119.30 M R2123.00 M
S3118.50 S R1121.89 W
Trend
down
Volatility
5%
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News


EUR/USD Slips Despite Euro-Zone Unemployment Beating Forecasts

Elsewhere, Euro-Zone PMI readings perked up, with the Euro-Zone PMI Manufacturing gauge at its highest reading since January 2014.
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Analyst Picks

Michael Boutros   

Currency Strategist

My Picks: Near-term Setups in AUDNZD, USDCAD & EURJPY
Expertise: Short-term Technicals
Average Time Frame of Trades: 1-2 Days

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Pivot Points

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