EURJPY Weekly FOREX Forecast 12-Sep-2016

EURJPY Weekly FOREX Forecast 12-Sep-2016

EURJPY Weekly FOREX Forecast 12-Sep-2016

EURJPY Weekly Forecast

Closing Price of last week

Estimated Range




Strong Sell

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Weekly Outlook of EURJPY

The euro, Japanese yen of the last week is a downward trend with a fall of the dollar, Japanese yen from the beginning of the week. As for the euro, Japanese yen that began on the 116 yen level, as for the ISM association of U.S. supply management nonmanufacturer synthesis business conditions index, it was the low level for the first time in six and a half years in August on 6th and it fell and was sold to 113 yen 82 sen because an American expectation of rising interest rates retreated.The extension of the asset purchase program of 80 billion euros that assumed March, 17 when I expected it a time limit a month was not proposed afterwards in the ECB board of directors of 8th. In addition, the euro was bought back to a 115 yen stand by having stated, an additional incentive is not necessary for the time being without the president discussing asset purchase program extension by an interview.I spoke the possibility of the change of the asset purchase program with examination and only showed an additional mild, forward posture. Because the market was over the viewpoint with October or December without this time, time was only put off and is recognized.Including the ISM manufacturing industry and nonmanufacturer diffusion index of August the lower blurring of the U.S. economic indicators is outstanding recently, and it is thought that sell the euro because the expectation to a rise in interest rates in the FOMC for 20-21 days greatly decreases in September, and U.S. dollar buying is less likely to greatly open.The euro area consumer price index is planned in August on production index of manufacturing sector, 15th in euro area July on ZEW business perception index, euro area September ZEW business perception index, 14th in German September on 13th.

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