EURJPY Weekly FOREX Forecast 31-Oct-2016

EURJPY Weekly FOREX Forecast 31-Oct-2016

EURJPY Weekly FOREX Forecast 31-Oct-2016

EURJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

115.06

113.71-116.81

Neutral


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Weekly Outlook of EURJPY

Previous week in response to the fact that continued improvement of the major economic indicators of Europe from the beginning of the week, ECB against the background of the observation of a further easing pressure on the European Central Bank is reduced, the euro is strong from the beginning movement It became. In addition, strengthened the US interest rate hike, the US bond yields are aware of US-Japan interest rate differential expansion by the elevated, and also the influence that the yen selling has become dominant, the euro-yen, 112 yen 84 sen beginning of the week will rise from to 115 yen 33 sen, it became the movement to give the highest level since October 11.This week is expected to bottom stiff movement. Such as the improvement of the economic indicators of the last week has been good feeling, from the fact that the ECB has come out also view that or not is to reduce the monetary easing, the euro has started to rise against major currencies, continued to bottom stiff movement Conceivable. The week the first half are expected to Japan and the United States of the monetary policy announcement, the United States of rate hikes expected the flow of yen selling to be reduced is a possibility to continue. In addition, GDP in the euro area is in 31 days gross domestic product, on the third day has been scheduled announcement of the unemployment rate, in the case of strong results following the previous week continues, is also conceivable rise of one stage.
Source: MORNINGSTAR

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