(VIANEWS) - EUR/JPY (EURJPY) has been up by 8.25% for the last 21 sessions. At 19:07 EST on Wednesday, 7 August, EUR/JPY (EURJPY) is $160.12.
Eur/jpy price analysis: boj’s dovish remarks boost the cross above 161.00, bearish outlook remains intact
According to the 4-hour chart, the bearish outlook of EUR/JPY prevails as the cross remains below the key 100-period Exponential Moving Averages (EMA). , On the downside, the initial support level for EUR/JPY is seen at 157.30, a low of August 6.
EUR/JPY's yearly highs and lows, it's 8.34% up from its 52-week low and 8.721% down from its 52-week high.
Volatility
EUR/JPY's last week, last month's, and last quarter's current intraday variation average was a negative 0.71%, a negative 0.36%, and a positive 0.36%, respectively.
EUR/JPY's highest amplitude of average volatility was 0.73% (last week), 0.53% (last month), and 0.36% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, EUR/JPY's Forex is considered to be overbought (>=80).
Previous days news about EUR/JPY (EURJPY)
- Eur/jpy trades around 157.00, trims losses following PMI data. According to FXStreet on Monday, 5 August, "However, the EUR/JPY cross trims its intraday losses following the release of the Eurozone Producer Price Index (PPI) and the German Purchasing Managers' Index (PMI) data.", "Additionally, safe-haven flows provide support for the JPY while putting downward pressure on the EUR/JPY cross, a trend that can be linked to increased geopolitical tensions in the Middle East. "
- Eur/jpy trims a part strong intraday gains, manages to hold above 159.00 mark. According to FXStreet on Tuesday, 6 August, "A positive turnaround in the risk sentiment - as depicted by a relief rally across the global equity markets - undermines demand for the safe-haven Japanese Yen (JPY) and prompts some follow-through short-covering around the EUR/JPY cross. ", "This bodes well with the BoJ's plan to steadily raise interest rates and warrants some caution before placing bullish bets around the EUR/JPY cross."
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