12 Jan 2015
EUR/JPY bears on top and pressures mounting
FXStreet (Guatemala) - EUR/JPY is currently trading at 140.38 with a high of 140.46 and a low of 140.10, flat on the day so far.
EUR/JPY advances at 140.50 region have been tolerated by the bears and eventually put away as the pair trades back down within the sideways channel set in a broader bearish tone.
The Yen has been performing better bid and is opening up further risk to the upside vs its counterparts on risk aversion. However, the cross is ultimately suffering on risks associated to the Eurozone with markets scrambling towards ideas around a Greece exit from the single currency. This coupled with weaker global stocks and with the ECB around the corner, not many are long of the Euro, with a dovish tone around the Central Bank and expected QE at the start of this year.
EUR/JPY advances at 140.50 region have been tolerated by the bears and eventually put away as the pair trades back down within the sideways channel set in a broader bearish tone.
The Yen has been performing better bid and is opening up further risk to the upside vs its counterparts on risk aversion. However, the cross is ultimately suffering on risks associated to the Eurozone with markets scrambling towards ideas around a Greece exit from the single currency. This coupled with weaker global stocks and with the ECB around the corner, not many are long of the Euro, with a dovish tone around the Central Bank and expected QE at the start of this year.