Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
Top Trade Idea 2020: Long EUR/JPY – Chart Suggests a Bullish Set-up in the Making

Top Trade Idea 2020: Long EUR/JPY – Chart Suggests a Bullish Set-up in the Making

Nick Cawley, Senior Strategist

Share:

My forex-pair to watch for a longer-term set-up in 2020 is long EUR/JPY with the charts currently suggesting that the heavy sell-off initiated at the start of 2018 is finally breaking down.

While the Japanese Yen continues to benefit from its risk-off status as the US-China trade war rumbles on, it is likely that a resolution - or even part-resolution - to this will be found early 2020 with neither side benefitting from trade tariffs, whatever they say. This will weaken JPY.

EUR/JPY Weekly Price Chart (February 2017 – 11, December 2019) (Chart 1)

EURJPY Weekly Price Chart

On the left-hand side of the pair, the Euro is now in the hands of a new ECB President, Christine Lagarde, who has already let it be known that fiscal policy should start replacing the current loose monetary policy.

Top Trading Opportunities in this Quarter
Top Trading Opportunities in this Quarter
Recommended by Nick Cawley
Download our Top Trading Opportunities for 2020
Get My Guide

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES