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Euro/Japanese Yen (EUR/JPY) Exchange Rate
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EUR/JPY Advanced Live Chart
EUR/JPY Advanced Live Chart
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After the breakdown below its horizontal resistance zone, the uptrend in the EUR/JPY is collapsing.
As global financial markets have entered a risk-on face, asset rotations have resulted in heavy selling pressure in the Japanese Yen.
China's industrial output shrank more than expected, adding to investors' fears of the global economic recession and thus supporting the strong investor move to safe haven assets led by the Japanese Yen.
With Thursday's session started, the EUR / JPY pair is attempting to rebound higher, with but gains did not exceed 122.23 at the time of writing.
The JPY continues to gain more against its major counterparts.
A stronger-than-expected victory for the anti-EU parties and it policies, as well as the continuation of the global trade war and its negative impact on the Euro-Zone economy will further support downward pressure on the EUR/JPY
Despite the bearish effects that Trump’s comments on tariffs had on the USD, the overall trend remains bullish as long as the pair remains above the 110.00 resistance level.
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The common currency Euro had earlier struck a fresh 5-week peak versus the US Dollar as concerns that a global trade war had been brewing now seem to be receding.
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The US Dollar continued its slide versus the Japanese Yen after a sentiment shift in the wake of yesterday’s move by the Bank of Japan.
Rising risk-on sentiment helped the EUR/USD to resume strong gains, as the pair moved towards the highest levels in 28 months, reaching towards the resistance at the 136.36 level, the highest level since October 2015.
The EUR/JPY is established around 135.60 level for the 4th day in a row, which created a cluster threatens to have a corrective moves of profit taking at any time
Gains for the EUR/JPY stopped around the resistance level at 135.60 awaiting stronger stimulates to continue the bullish move which took this pair to its highest levels
There is an increase of risk appetite among investors despite thin liquidity in the markets due to holiday season, however, the EUR/JPY succeeded in testing a new record
Technically, the EUR/JPY upward chance is still stronger as shown on the daily chart.
The EUR/JPY gains halted around 134.88, the highest level for the pair since 2015.
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