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/JPY: Near-term Reversal Potential
S1119.31 W R3122.50 S
S2118.19 M R2121.16 M
S3117.48 S R1120.34 W
Trend
down
Volatility
5%

News


EUR/JPY: Near-term Reversal Potential

A rebound off confluence support this week puts the focus on a break of near-term slope resistance. Here are the updated targets & invalidation levels that matter.
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Analyst Picks

James Stanley   

Currency Strategist

My Picks: Long EUR/JPY
Expertise: price action + macro
Average Time Frame of Trades: few days - few weeks


Pivot Points

Forex Economic Calendar

A: Actual   F: Forecast    P: Previous