EUR/JPY BUYKey Factors Influencing EUR/JPY:
Euro (EUR): The value of the euro is significantly affected by the economic conditions in the Eurozone and the monetary policy of the European Central Bank (ECB). Factors like GDP growth, inflation rates, and unemployment can impact the euro’s strength.
Japanese Yen (JPY): The yen is considered a safe-haven currency, often appreciating in times of global uncertainty. The Bank of Japan's (BOJ) monetary policy, including interest rates and quantitative easing measures, plays a crucial role in determining the yen's value.
Interest Rate Differential: The difference in interest rates set by the ECB and BOJ can influence the EUR/JPY exchange rate. Higher interest rates in the Eurozone relative to Japan typically strengthen the euro against the yen, and vice versa.
Market Sentiment and Geopolitical Factors: Global market sentiment and geopolitical events can affect the EUR/JPY rate. During periods of market uncertainty, the yen often strengthens as investors seek safe assets.
I am waiting for YEN to keep the band shown in the picture and weaken further.
