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.
from wedge resistance to wedge support $EURJPY https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/01/18/Euro-Weekly-Forecast-EURUSD-Range-EURJPY-Wedge-Ahead-of-ECB.html https://t.co/bAGbxFR0M4
The two things I’m watching from the ECB today.
1) will the ECB change their inflation target? They’ve missed it since 2013
2) Sweden’s Riksbank recently ended their negative interest rate policy. Will the ECB follow?
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk. Losses can exceed deposits. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.
FX Publications Inc (dba DailyFX) is registered with the Commodities Futures Trading Commission as a Guaranteed Introducing Broker and is a member of the National Futures Association (ID# 0517400). Registered Address: 32 Old Slip, Suite 803; New York, NY 10005.