The EUR/JPY cross attracts some dip-buying following the previous day's modest pullback from over a one-week top and sticks to its intraday gains through the early European session on Tuesday.
EUR/JPY gains positive traction for the second straight day, though the upside seems limited. A combination of factors undermines the safe-haven JPY and lends some support to the cross. Geopolitical tensions and BoJ rate hike bets to limit the JPY losses, warranting caution for bulls. The EUR/JPY cross attracts some dip-buying following the previous day's modest pullback from over a one-week top and sticks to its intraday gains through the early European session on Tuesday.
Apart from this, geopolitical developments should produce short-term opportunities around the EUR/JPY cross. Japanese Yen FAQs What key factors drive the Japanese Yen? The Japanese Yen is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.
BOJ Riskappetite Middleeast Currencies
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Retail Trader Sentiment Analysis – USD/JPY, EUR/JPY, and AUD/JPYThe Japanese yen outperforms the Aussie dollar in early trading as the AUD selloff continues. What does retail positioning suggest about future price movements?
Read more »
Japanese Yen Sentiment Analysis – USD/JPY, GBP/JPY, EUR/JPY LatestJapanese Yen trader data shows some sizeable shifts in Yen positioning against USD, GBP, and EUR.
Read more »
EUR/JPY IG Client Sentiment: Our data shows traders are now at their most net-long EUR/JPY since Dec 18 when EUR/JPY traded near 155.86.Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current EUR/JPY price trend may soon reverse lower despite the fact traders remain net-short.
Read more »
EUR/JPY hammered down to the lowest level since May 6, below mid-165.00sThe EUR/JPY cross extends its steep descent witnessed since the early part of this week and plummets to the lowest level since May 6, around the 165.40 region during the Asian session on Thursday.
Read more »
EUR/JPY pares intraday losses, remains below 160.00 amid hawkish BoJ-inspired JPY strengthThe EUR/JPY cross comes under some renewed selling pressure on Thursday and moves away from the weekly peak, around the 161.45 region touched the previous day.
Read more »
EUR/JPY gains traction above 160.50 amid light tradingThe EUR/JPY cross trades firmer around 160.60 on Monday during the Asian trading hours.
Read more »