18 Jun 2015
EUR/JPY choppy around 140.00 on Eurogroup
FXStreet (Guatemala) - EUR/JPY is currently trading at 140.00 with a high of 140.67 and a low of 139.49.
The main theme around the price action comes as the Eurogroup concludes, and prior to that we have had leaks of one rumour or another. We await the press conference in five mins but markets are not holding out for any progress, while Draghi was reported leaving the meeting and the IMF not budging on the 30th June deadline and no deal has been reported. However, there are leaks that the aid will be extended to the end of the year without the help of the IMF. We await confirmations.
Back to something more solid, the BoJ is up tonight. This will draw the markets attention in respect of this press conference and the value of the Yen that may be a topic of discussion that could weigh on the cross given the recent remarks towards the weakness of the Japanese currency.
EUR/JPY technically remains bullish
Technically, we have been en route to the 141 level this week. A break here would be very bullish and could instigate positioning higher for a continuation of the bull trend. Given the spike to the aforementioned highs today, it is conceivable that 141 is indeed easily achievable on bullish sentiment which may or may not come from tonights BoJ.
The main theme around the price action comes as the Eurogroup concludes, and prior to that we have had leaks of one rumour or another. We await the press conference in five mins but markets are not holding out for any progress, while Draghi was reported leaving the meeting and the IMF not budging on the 30th June deadline and no deal has been reported. However, there are leaks that the aid will be extended to the end of the year without the help of the IMF. We await confirmations.
Back to something more solid, the BoJ is up tonight. This will draw the markets attention in respect of this press conference and the value of the Yen that may be a topic of discussion that could weigh on the cross given the recent remarks towards the weakness of the Japanese currency.
EUR/JPY technically remains bullish
Technically, we have been en route to the 141 level this week. A break here would be very bullish and could instigate positioning higher for a continuation of the bull trend. Given the spike to the aforementioned highs today, it is conceivable that 141 is indeed easily achievable on bullish sentiment which may or may not come from tonights BoJ.