For Traders

Analytical Reviews

27.03.201718:09 Forex Analysis & Reviews: EURJPY Fundamental Analysis March 27, 2017

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EURJPY has found its support at the 119.40 area and currently having a bullish pullback towards 120. Today JPY seemed a bit weaker having BOJ Summary of Opinions meeting discussing about the further inflation rates and SPPI report which was quite positive at 0.8% which was expected to be at 0.5%. On the other hand, EUR had a high impact news on German Ifo Business Climate report which had a great positive outcome at 112.3 which was expected to be at 111.2, it has seen a significant growth which did helped EUR to gain some strength over the JPY. This week, EUR is expected to JPY in every way and climb some pips higher in this pair.

Now let us look at the technical view. The price has bounced off from the support of the 119.40 area and currently violating the 20 EMA resistance. Today if the market remains above the 20 EMA with a daily close, it is expected that the price will climb towards the 121.80-122.00 resistance area soon.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.