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EUR/JPY Analysis Forecast For 22 May 2015

Analysis and Recommendations (EUR/JPY Forecast 22 May):

The EUR/JPY gained 14 points to trade at 134.77 as the euro recovered a bit from the declines over the last few days. Traders are keeping close tabs on the BOJ’s two-day policy meeting through Friday after the Nikkei business daily said the central bank may reassess the state of the domestic economy in light of strong first-quarter growth and signs of a rebound in consumer spending. The euro rose slightly against the dollar and the yen, paring some of its recent losses triggered by the European Central Bank’s reported plan to front-load its bond buying program in May and June.

The euro pared its first weekly loss since April as the European Central Bank’s renewed emphasis on stimulus was countered by uncertainty over the Federal Reserve’s path towards monetary tightening.

The common currency has declined 2.9 percent this week against the dollar as the ECB pledged to front-load its debt purchases.

EUR/JPY Technical Analysis Forecast

Although EURJPY is in an uptrend, currently horizontal movement is effective novadays. As long as the parity stays over 133.40, we can say that up trend continues. At this time, 135,30 and 135,85 levels would be seen. Otherwise the targets below are 134.25 and 133.75. To be in SELL positions, traders should wait to get below 133.40 and get a couple of hourly closings below this level.

 

 

eurjpy forecast

ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information for EUR/JPY in our  weekly reports and we provide daily updates and outlooks.

Today’s economic releases actual vs. forecast:

Cur. Event Actual Forecast Previous
  CNY HSBC Manufacturing PMI 49.1 49.3 48.9  

 EURJPY(15 minutes)20150521064558

Upcoming Economic Events that you should be monitoring for EUR/JPY in forex trading:

Friday, May 22, 2015

Cur. Event Actual Forecast Previous
  EUR German GDP (QoQ) (Q1)   0.3% 0.3%  
  JPY BoJ Press Conference        
  EUR German Ifo Business Climate Index (May)   108.3 108.6  
  EUR ECB President Draghi Speaks        
  GBP BoE Gov Carney Speaks        
  USD Core CPI (MoM) (Apr)   0.2% 0.2%  
  CAD Core CPI (MoM) (Apr)   0.2% 0.6%  
  CAD Core Retail Sales (MoM) (Mar)   0.4% 2.0%  
  GBP BoE Gov Carney Speaks        
  EUR ECB President Draghi Speaks        
  USD Fed Chair Yellen Speaks      

Government Bond Auctions

Date Time Country

May 21 08:30 Spain Auctions Bonos

May 21 09:03 Sweden Holds bond exchange auction

May 21 09:10 France Auctions BTANs

May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt

May 21 10:10 France Auctions

May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May

May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year

May 21 17:00 US Auctions 10-year TIPs

May 22 09:03 Sweden Holds bond exchange auction

May 22 10:00 Norway Details bond auction on 27 May

 

EUR/JPY analysis forecast

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