The EURJPY pair has received a boost from Kuroda’s comments. So how does the pair trade currently? Read on and get the latest news about the pair from the 31 January EURJPY Fundamental Analysis?
31 January, GKFX – EUR/JPY moving higher in Asia, currently testing closer to the New York session high of 135.20.
- EUR/JPY receives a boost from Kuroda.
- Growth in Japan good, but not good enough for BoJ.
The Yen lost strength early in Tokyo immediately following statements from the Bank of Japan’s Governor Kuroda reaffirmed the BoJ’s dedication to an easy monetary policy stance, citing that inflation is still too low for the central bank’s satisfaction, stating that he expects the Japanese economy to meet BoJ inflation expectations in the fiscal year 2019.
The Eurozone has a slew of economic data due today, notably German Retail Sales at 07:00 GMT, German Unemployment figures at 08:00, and important inflation figures for the Eurozone as CPI data for the EZ drops at 10:00 GMT
31 January EURJPY Fundamental Analysis
With the uptick in early Tokyo, EUR/JPY is now knocking on the door of the lower bound of the range price was trapped in for the two previous weeks, between 135.25 and 136.15; failure to continue the bullish move could be seen as previous support turning into resistance, and signal a further move down the charts.
On the longer timeframes, however, the Euro has steadily gained on the Yen as global risk appetite strengthens, claiming higher highs against the Yen in eight of the last ten months.
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