Browse All Rates
Euro/Japanese Yen (EUR/JPY) Exchange Rate
EUR/JPY Pivot Points
EUR/JPY Advanced Live Chart
EUR/JPY Advanced Live Chart
EUR/JPY Latest Updates
After an extended period of risk-on across financial markets, traders started to take a closer look at red flags which remain across economies.
After the EUR/JPY reached its resistance zone, the upside momentum started to cripple and a sideways trend emerged which remained centered at the bottom range of this zone.
Today is the second and final day of the EU summit which yielded a new Brexit deal yesterday.
Start the new trading week of September 11, 2019 prepared with our Forex forecast for major currency pairs here!
Risk-on sentiment was dominant during the Asian trading session as the majority of market participants expect a currency pact to be announced
In Asian trade, the US Dollar was largely under pressure on fading hopes for some resolution to the trade discussions between China and the United States.
The Australian dollar fell during most of the week but turned around to show signs of support.
EUR/JPY: Can price action reverse from support?
The single currency lacks momentum for gains against the other major currencies as the economic performance of the Eurozone continues to weaken, led by its largest economy, Germany.
With EUR/JPY abandoning the 120.00psychological resistance, the bearish trend will remain the strongest.
The EUR/JPY pair has been volatile during the month of September, going as low as ¥116, and as high as ¥120.
Bearish momentum in the EUR/JPY is receding as the current sell-off took this currency pair into its short-term support zone.
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.
The difference between success and failure in Forex trading is very likely to depend upon which currency pairs you choose to trade each week