EUR/JPY Expected to Remain Steady Despite Slight Downward Turn
Last week saw a steady rise of the EUR/JPY pairing. After opening on Monday at 135.98 it rose throughout the week before closing on Friday at 139.19. This week began with a small drop and the pair has been trading at round 138.69.
The Euro fell slightly in value at the start of this week after the latest data from China showed that the world’s second largest economy may be struggling. At the same time, the Yen has remained on the downside after the governor of the Bank of Japan suggested that the bank may implement loose policies to help inflation reach its 2% target.
There are no great changes expected over the coming days and it is likely that the pair will hold steady around its current level. However, additional comments from the Band of Japan regarding stimulus could see the Yen drop further.