EURJPY: The Japanese yen falls as Japan's Ministry of Finance (MoF) may reduce its issuance of long-term bonds.
Today, the Japanese yen is the worst-performing currency across the board.
The decline is linked to speculation that Japan’s Ministry of Finance (MoF) may reduce long-term bond issuance due to weak demand and rising yields.
This speculation stems from a rare questionnaire the MoF sent to market participants, asking for their views on issuance and overall market conditions. The move was seen as unusual, fueling concerns about potential changes in Japan’s bond strategy.
Technical Analysis
EUR/JPY has broken out of a complex inverse head and shoulders pattern, with the above news acting as a catalyst for its bullish momentum.
While the price may take a short pause, further upside remains likely, with targets at 164.30 and 165.00.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Today, the Japanese yen is the worst-performing currency across the board.
The decline is linked to speculation that Japan’s Ministry of Finance (MoF) may reduce long-term bond issuance due to weak demand and rising yields.
This speculation stems from a rare questionnaire the MoF sent to market participants, asking for their views on issuance and overall market conditions. The move was seen as unusual, fueling concerns about potential changes in Japan’s bond strategy.
Technical Analysis
EUR/JPY has broken out of a complex inverse head and shoulders pattern, with the above news acting as a catalyst for its bullish momentum.
While the price may take a short pause, further upside remains likely, with targets at 164.30 and 165.00.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Note
EURJPY - Bullish Outlook - Update🎯+80 pips so far
From the analysis I posted yesterday EURJPY tested the reversal zone 163 - 163.25 as shown on the chart and during the last couple of hours increased by nearly +85 pips.
The bullish movement looks strong and it can continue to rise further however don't forget that BOJ is not clear at all what is doing. It may rise but it has a higher risk than normal as well.
If you are happy with these profits then take them. If you are not then follow the targets
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.