FX.co ★ EUR/JPY

Hi everyone! EURJPY rose to 185.50 by the end of yesterday’s session, just as I had forecast. The pair will try to continue its rise and break through the 186.30 resistance, which opens the way for EURJPY to 188.00. The economic calendar for Japan and the Eurozone is empty — the market is trading on momentum after yesterday’s events. This means traders will be playing the rate differential, where the euro has a strong position. EURJPY is also supported by external events, the problems in the Strait of Hormuz, and US weekly jobless claims. Right now, oil and the US labor market are in the spotlight. Despite Donald Trump’s tough statements, he has no other options but to negotiate with Iran. The increase in jobless claims deprives the Fed of the ability to pursue a hawkish policy.