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EUR/JPY is now close to 126.80, EMU data on tap

 

  • EUR/JPY currency pair continues to stay close to the 126.00 level.
  • Positive data releases in China keeps the risk levels at bay.
  • The release of the EMU CPI data came in as everyone predicted for the previous month.
  • There is a strong buying interest surrounding the currency pair.

Are you searching for a strong currency with high potential on the trading chart? Guess what? Now you can make some great Pips on the EUR GBP exchange rate and begin your journey as a successful trader!

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According to Fxempire.com today the EUR JPY currency pair is deploying a lot of effort in keeping the 127.00 level and so far it has started to show signs of dropping close to the 126.00 level and at the bottom of this stands the recent EMU data releases.

EUR/JPY makes a jump towards 126.80

I have noticed that the trading cross is deploying a lot of effort in jumping over the 126.80 level and reach the 127.00 point but the sheer amount of auspicious data released in China has propped up a new trading mood which is very rich in risk sentiments and the demand for the JPY has managed to raise the cross to higher grounds.

At the beginning of the trading session the inflation levels were rather high but towards the middle of the session the because of the positive data in the European Union has matched most predictions therefore leaving no surprises for all the active investors.

Across the ocean in the United States the Fed speakers as well as the Fed’s Beige Book are the most important data releases and the USD dynamics will react directly to this modification.

Why I think EUR/JPY exchange rate is one of the best currencies to trade right now

As for political influences the upcoming parliamentary elections in the European Union are offering a lot of influence and all investors will keep a close eye on the populist option among voters.

Today I advise you to use the SELL action as much as possible!

Let us know how you feel about this analysis? Even if you are a novice trader we would still like to know your opinion!

Forex and Profits presents Today’s Free Forex Signal

A summary of Highs and Lows for the EUR JPY

Highest level = 126.90

Lowest level = 125.38

Volatility level = High

Sell is the main action for EUR/JPY exchange rate

Today’s Forex predictions

Here is my EUR JPY forecast for tomorrow

Follow this trader now

Sell 80 %

Buy 20 %

S3 = 110.10 S2= 110.61 S1 = 111.93

R1 = 111.20 R2 = 112.34 R3 = 112.50

EUR/JPY significant trading levels

For the time being the EUR JPY currency pair is going upwards by a positive value of +0.26% and it is trading in the close vicinity of the 126.64 level and it is going to rely heavily on the 126.80 level followed close up by 127.50 point and lastly ending with 127.64.

On the other side of the medal I believe that by jumping over the 126.19 level this will clear the trading path towards the 125.46 level and ending with 123.65 level.

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