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EURJPY (FibreYen): Business : Nigerialog.com - Nigeria's Premier Online Forum (65 views)

EURJPY (FibreYen)

By alagbe003 (M)July 10, 2018, 09:29:59 AM
The hawkish testimony of Mario Draghi, the European Central Bank President before the European Parliament Economic and Monetary Affairs Committee, in Brussels yesterday lend strength to the common currency. He said the economy of the Euro Zone grew by 0.4% in the first quarter of this year laying a solid foundation for economic stability. He also pointed out that the labour market has been improving as employment in the zone has been rising with more than 8.3 million jobs created since mid-2013. Safe haven currency Yen was unable to outweigh the strength of the common currency despite the release of fairly impressive economic data from the country. Hence the pair closed bullish.

Today, the instrument opened above the pivot and has successfully found a support on the MA (14) on the hourly chart ahead of the release of German ZEW Economic Sentiment from the eurozone by 10 am. The Fibre is expected to further surge higher today against the Yen as the latest Eurosystem staff economic projections of average annual growth rose from 1.9% in May to 2 % last month. Hence a bullish move (buy) is envisaged on the instrument today.


Re: EURJPY (FibreYen)

By princepointJuly 10, 2018, 09:36:12 AM
Eur /jpy trend still going upwards


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