empty
 
 
27.03.2017 06:09 PM
EURJPY Fundamental Analysis March 27, 2017

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.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback