•  

    Thank you for your trust! In forex trading transactions at Salma Markets!

    Just make a deposit of at least $1 to your account!

    Get the best trading conditions and attractive bonus offers! let's immediately invest in forex trading! at Salma Markets! And get the best trading conditions!

    Salma Markets – invest in your victories!

  • toolbarCollapseOpenAccount_1
  • Salma Client Cabinet

    • Personal settings
    • Access to all Salma services
    • Detailed statistics and reports on trades
    • Full range of financial transactions
    • System of managing several accounts
    • Maximum data protection
  • cabinet_client1

Company News

Determining the mission to give traders opportunities in every second, SalmaMarkets has been attempting to provide clients with as many advantages as possible.

demo Company News

EUR/JPY: eyes on global equities, European politics and key data/geo-political events

Hasil gambar untuk EUR/JPY: eyes on global equities, European politics and key data/geo-political events

EUR/JPY has climbed in the Asian open at the start of July's business with a bid in the euro crosses as the morning went by despite the German political fall out as reported in the weekend press. EUR/JPY has scored a high of 129.35 from a low of 129.08.

The weekend's political news has the interior minister and Leader of the Christian Social Union, Merkel's coalition partner in government, Horst Seehofer, rejecting a migration deal that Angela Merkel negotiated at last week's Brussels summit. Thus, such a political crisis for Germany begs the questions as to Merkel's position ahead of German regional elections that will not be until October. 

Germany's Economy Minister Altmaier suggested that the coalition is in a 'serious' condition, however, Seehofer's resignation is not yet a done deal and the euro was able to recover some lost ground in thin trade on Monday.

Key risks ahead

Meanwhile, stocks behaved positively on Wall Street for the last trading day of the month and Tokyo may follow suit, however, the 6th July is set for when Chinese tariffs kick in by the Trump administration, offering a potential catalyst for volatility. Before then, European data in Germany Factory Orders and Industrial Production for May (Thursday-Friday) will also be key events. Nonfarm payrolls are also due and have the potential to rick Wall Street one way or the other. 

EUR/JPY levels

Analysts at Commerzbank explained, from a technical perspective, that they look for the market to remain on the defensive while below the 55-day ma and the 2018 downtrend line at 130.09:

"The risk remains that we will see a slide back to 125.75, the last defence for the 124.62 recent low. Below 124.62 there is scope for a slide to the 124.08 December 2016 high. Between here and the 50% retracement at 123.40 we expect to see some profit taking. Below here would target 120.10/00."

 

FXStreet.com

COMMENT ON-SITE

FACEBOOK

Show older comments
bg_custom-support

ic_info 24/5 Customer Support

Our dedicated team of customer support agents is on hand to provide you with localised support in 10 languages.