EUR/JPY has traded over 170 and below 100 — all in the past decade. It moves. And that’s why a lot of traders like it. When it gets on a trend, it can make big moves. But which way might it be heading next?
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One of the more popular currency pairs for its volatility, EUR/JPY has the potential for large intraday swings that can approach 200 pips. That volatility is a blessing and a curse as traders not only need to monitor important levels in EUR/JPY, but also EUR/USD and USD/JPY to avoid entering a position ahead of major support or resistance.
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EUR/JPY has come well off its highs this year. Even as USD/JPY has strengthened since March’s volatility-inspired low, EUR/JPY has traded sideways. Traders would likely expect the pair to move back higher, however prices remained dampened by Euro selling. Perhaps that’s because the U.S. Dollar is dictating much of the moves in currencies in 2018.
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