1 Jul 2015
EUR/JPY: Less negative on Greece with stronger greenback
FXStreet (Guatemala) - EUR/JPY is currently trading at 136.10 with a high of 137.42 and a low of 136.03.
EUR/JPY is moving towards Asia slightly offered as profits are taken off the table from Europe's bullish start that had the euro rallying from the off. The Yen has also been suffering while the greenback took the limelight back on decent data. Greece has been less of a catalyst as the US session progressed ahead of the referendum this weekend.
EUR/JPY price action
EUR/JPY has been a one play since the initial starting bid at 135.901 until 137.41, moving south in a drift towards current levels, with some choppiness around 136.20 support.
EUR/JPY on Greece
Tsipras addressed the nation on live TV when he confirmed that Sunday’s referendum is still on. He continues to urge the people to vote ‘NO’. Meanwhile, Eurogroup President, Jeroen Dijsselbloem said that there is "little chance" that any progress will be made in the Greek negotiations after controversial comments from Tsipras during today’s' speech. Post the Eurogroup conference call earlier, an ECB official that there will no other meetings that are planned before this Sunday's referendum.
The Yen is favoured in times of uncertainty but for now, it seem less uncertain in respect of whether a referendum will take place or not, and the dollar has taken over as the safer haven on better data releases ahead of this week's Nonfarm Payrolls coming up in the next 24 hours, leaving the yen delicate.
EUR/JPY remains bearish
There is a bullish target zone for EUR/JPY of 140.70/141.06 and recent highs back in to the distance as the Yen continues to play out its safe haven roll and bringing 133.76 28 June lows back in to focus within April's uptrend from 129.09.
EUR/JPY is moving towards Asia slightly offered as profits are taken off the table from Europe's bullish start that had the euro rallying from the off. The Yen has also been suffering while the greenback took the limelight back on decent data. Greece has been less of a catalyst as the US session progressed ahead of the referendum this weekend.
EUR/JPY price action
EUR/JPY has been a one play since the initial starting bid at 135.901 until 137.41, moving south in a drift towards current levels, with some choppiness around 136.20 support.
EUR/JPY on Greece
Tsipras addressed the nation on live TV when he confirmed that Sunday’s referendum is still on. He continues to urge the people to vote ‘NO’. Meanwhile, Eurogroup President, Jeroen Dijsselbloem said that there is "little chance" that any progress will be made in the Greek negotiations after controversial comments from Tsipras during today’s' speech. Post the Eurogroup conference call earlier, an ECB official that there will no other meetings that are planned before this Sunday's referendum.
The Yen is favoured in times of uncertainty but for now, it seem less uncertain in respect of whether a referendum will take place or not, and the dollar has taken over as the safer haven on better data releases ahead of this week's Nonfarm Payrolls coming up in the next 24 hours, leaving the yen delicate.
EUR/JPY remains bearish
There is a bullish target zone for EUR/JPY of 140.70/141.06 and recent highs back in to the distance as the Yen continues to play out its safe haven roll and bringing 133.76 28 June lows back in to focus within April's uptrend from 129.09.