19 Jun 2015
EUR/JPY: From chatter of a Grexit to the BoJ
FXStreet (Guatemala) - EUR/JPY is currently trading at 139.88 with a high of 140.09 and a low of 139.61.
EUR/JPY has seen a sharp spike in the price to the upside, with EUR/USD making a 60 pip turnaround in the space of minute stick and the cross following suit. There is little out there offering rhyme nor reason for this freak move, be it a fat figure in thin conditions in early Asia, but the pair is back in line with the rising drift that commenced from the lows of 139.84 as we moved over from the US session. However, the bears in Tokyo are flexing their muscles ahead of the BoJ later on.
Meanwhile, the news from the EZ came with the Eurogroup conclusions...that were, well, much of the same without progress but this time more pressure was on Greece to get their act together and to start negotiations with a sense of urgency. No deal was made today and the IMF have drawn a line in the sand giving Athens to until 30th June to present something palatable or else...a Grexit?
EUR/JPY technically remains bullish
Technically, a break of 141.00 would be very bullish and could instigate positioning higher for a continuation of the bull trend. We had an early to 140.09 today and it is conceivable that 141 is indeed easily achievable on bullish sentiment which may or may not come from tonights BoJ.
EUR/JPY has seen a sharp spike in the price to the upside, with EUR/USD making a 60 pip turnaround in the space of minute stick and the cross following suit. There is little out there offering rhyme nor reason for this freak move, be it a fat figure in thin conditions in early Asia, but the pair is back in line with the rising drift that commenced from the lows of 139.84 as we moved over from the US session. However, the bears in Tokyo are flexing their muscles ahead of the BoJ later on.
Meanwhile, the news from the EZ came with the Eurogroup conclusions...that were, well, much of the same without progress but this time more pressure was on Greece to get their act together and to start negotiations with a sense of urgency. No deal was made today and the IMF have drawn a line in the sand giving Athens to until 30th June to present something palatable or else...a Grexit?
EUR/JPY technically remains bullish
Technically, a break of 141.00 would be very bullish and could instigate positioning higher for a continuation of the bull trend. We had an early to 140.09 today and it is conceivable that 141 is indeed easily achievable on bullish sentiment which may or may not come from tonights BoJ.