FX_IDC:EURJPY chart by TradingView

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 in Choppy Waters as Dovish Draghi at Odds with Better Data
S1121.95 W R3125.00 S
S2120.91 M R2124.09 M
S3119.91 S R1123.09 W
Trend
down
Volatility
5%
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News


EUR/USD in Choppy Waters as Dovish Draghi at Odds with Better Data

ECB President Mario Draghi spoke in dovish tones on Thursday, highlighting the central bank’s commitment to keep its policy accommodative over the course of 2017. However, the inherent pessimism over the Euro-Zone’s growth prospects are at odds with incoming data.
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Analyst Picks

James Stanley   

Currency Strategist

My Picks: Long-Term Setups in GBP/USD, EUR/JPY and USD/JPY
Expertise: Price Action + Macro
Average Time Frame of Trades: few days - few weeks

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Pivot Points

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Forex Economic Calendar

A: Actual   F: Forecast    P: Previous