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Market Analysis: EURJPY: Business : Nigerialog.com - Nigeria's Premier Online Forum (142 views)

Market Analysis: EURJPY

By alagbe003 (M)May 15, 2018, 09:26:35 AM
EURJPY

The common currency got a boost against the Yen in the session yesterday due to the hawkish statement of a Member of the European Central Bank’ Governing Council Francois Villeroy de Galhau where he expressed optimism that the end to the current quantitative easing is nearer and that rate hike will come in quarters and not years. The safe haven currency came under pressure by the testimony of the Bank of Japan’s Governor, Haruhiko Kuroda where he confirmed uncertainties on inflation in the country. Hence the pair closed bullish.
EURJPY.JPG

Today, the instrument opened above the pivot and is currently surging Northward on both the 1H and 4H timeframes as we await the release of Flash GDP and German ZEW Economic Sentiment from the Eurozone by 10 am.
Tertiary Industry Activity released by Ministry of Economy, Trade, and Industry (MEITI) in Japan earlier this morning came out below forecast and is expected to weigh on the Yen in today’s session as discussions between the US and China is set to resume today. The current bullish trend (buy) is expected to continue to the resistance level at 131.340.


Re: Market Analysis: EURJPY

By princepointMay 15, 2018, 12:22:41 PM
strong buy signal eur/jpy


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