Eurjpy news

Here are some recent news and updates related to the EURJPY currency pair:

Current Market Situation:

• The EURJPY is currently trading at around 130.50, with a slight upward trend.
• The pair has been range-bound for the past few weeks, with prices oscillating between 129.50 and 131.50.
• The Japanese yen has been strengthening against the euro due to the country's robust economy and the Bank of Japan's (BOJ) dovish monetary policy.

Economic News:

• The European Central Bank (ECB) has kept interest rates unchanged, citing a stable economy and low inflation.
• The Japanese economy has been growing steadily, with a GDP growth rate of 1.8% in the first quarter of 2023.
• The BOJ has maintained its ultra-loose monetary policy, with a negative interest rate of -0.1% and a yield curve control policy.

Technical Analysis:

• The EURJPY is trading above its 50-day and 200-day moving averages, indicating a bullish trend.
• The Relative Strength Index (RSI) is around 55, indicating a neutral reading.
• The pair is approaching a key resistance level at 131.50, which could be a potential target for bulls.

Fundamental Analysis:

• The euro has been weakening against the yen due to the ECB's dovish stance and the eurozone's economic slowdown.
• The Japanese yen has been strengthening due to the country's robust economy and the BOJ's dovish monetary policy.
• The trade war between the US and China has also had a negative impact on the euro, as the eurozone is heavily reliant on Chinese exports.

News and Events:

• The ECB will hold its next monetary policy meeting on June 10, 2023, where it is expected to keep interest rates unchanged.
• The BOJ will hold its next monetary policy meeting on July 19, 2023, where it is expected to maintain its ultra-loose monetary policy.
• The eurozone's GDP growth rate is expected to slow down in the second quarter of 2023, which could put pressure on the euro.

Trading Strategies:

• Long-term traders may consider buying the EURJPY at current levels, targeting a resistance level at 131.50.
• Short-term traders may consider selling the EURJPY at current levels, targeting a support level at 129.50.
• Traders may also consider using technical indicators such as the RSI and moving averages to identify potential trading opportunities.

Please note that this is not a trading recommendation and you should always do your own research and consider your own risk tolerance before making any trading decisions.