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19 Mar 2015
EUR/JPY: Better bid and holding form
FXStreet (Guatemala) - EUR/JPY is currently trading at 130.17 with a high of 130.85 and a low of 130.08.
EUR/JPY is sitting on the bid below the overnight highs post the FOMC announcements. The pair was sent higher on the back of the euro rallying out of the danger zone and with the markets dumping supply of the greenback into the ring. The general theme around the Fed and sentiment is less hawkish and slightly dovish with bets that moved further down the line for a rate rise in September, although with the door remains left open for as early as June, just slightly ajar.
Rate rises are not expected to be aggressive but gradual and all of this has eased the pressure on the euro and supported the cross. EUR/JPY is at the 3 month downtrend and Karen Jones, chief analyst at Commerzbank said, "It is interesting to note that the current Elliott wave counts on the intraday charts allow for a possible 133.75 corrective move."
EUR/JPY is sitting on the bid below the overnight highs post the FOMC announcements. The pair was sent higher on the back of the euro rallying out of the danger zone and with the markets dumping supply of the greenback into the ring. The general theme around the Fed and sentiment is less hawkish and slightly dovish with bets that moved further down the line for a rate rise in September, although with the door remains left open for as early as June, just slightly ajar.
Rate rises are not expected to be aggressive but gradual and all of this has eased the pressure on the euro and supported the cross. EUR/JPY is at the 3 month downtrend and Karen Jones, chief analyst at Commerzbank said, "It is interesting to note that the current Elliott wave counts on the intraday charts allow for a possible 133.75 corrective move."