EUR/JPY A Long Week & Overall Bull Trend for the Past 8 Years!
As a forex trader, I have been keeping a close eye on the EUR/JPY currency pair, which has been on a steady upward trend for the past eight years.
In my previous post, I discussed this trend, and now I want to dive deeper into what's been driving it.
Over the past eight years, there has been a consistent upward trend in the value of EUR/JPY, with major breakouts from my Fibonacci 100% level. The pair has even reached an all-time high of 150, which is a remarkable achievement.
Several factors have contributed to this bullish trend, including the central bank policies and the economic performance of both the Eurozone and Japan. The Eurozone has shown a robust recovery since the 2008 financial crisis, with improvements in employment, exports, and domestic demand. On the other hand, Japan has experienced a long period of economic growth, albeit at a slower pace.
Another factor that has contributed to the upward trend is the interest rate differential between the Eurozone and Japan. The European Central Bank (ECB) has kept its interest rates at record lows, while the Bank of Japan (BOJ) has kept its rates near zero. This interest rate differential has made the Euro more attractive than the Japanese Yen, leading to an increase in demand for the EUR/JPY currency pair.
As for my own trading journey with the EUR/JPY pair, I plan to close my Bull position as the weekend approaches and re-align my analysis next week or at the end of the month. It's essential to keep a close eye on the market as it constantly changes, and it's crucial to adjust your trading strategies accordingly.
In personal opinion & conclusion, the EUR/JPY currency pair has been experiencing an overall upward trend for the past eight years, and several factors have contributed to this trend.
NOTE: As a trader, it's important to stay informed and adaptable in order to take advantage of potential opportunities and mitigate risks.
Happy Weekend & Keep us all safe... 🙏
In my previous post, I discussed this trend, and now I want to dive deeper into what's been driving it.
Over the past eight years, there has been a consistent upward trend in the value of EUR/JPY, with major breakouts from my Fibonacci 100% level. The pair has even reached an all-time high of 150, which is a remarkable achievement.
Several factors have contributed to this bullish trend, including the central bank policies and the economic performance of both the Eurozone and Japan. The Eurozone has shown a robust recovery since the 2008 financial crisis, with improvements in employment, exports, and domestic demand. On the other hand, Japan has experienced a long period of economic growth, albeit at a slower pace.
Another factor that has contributed to the upward trend is the interest rate differential between the Eurozone and Japan. The European Central Bank (ECB) has kept its interest rates at record lows, while the Bank of Japan (BOJ) has kept its rates near zero. This interest rate differential has made the Euro more attractive than the Japanese Yen, leading to an increase in demand for the EUR/JPY currency pair.
As for my own trading journey with the EUR/JPY pair, I plan to close my Bull position as the weekend approaches and re-align my analysis next week or at the end of the month. It's essential to keep a close eye on the market as it constantly changes, and it's crucial to adjust your trading strategies accordingly.
In personal opinion & conclusion, the EUR/JPY currency pair has been experiencing an overall upward trend for the past eight years, and several factors have contributed to this trend.
NOTE: As a trader, it's important to stay informed and adaptable in order to take advantage of potential opportunities and mitigate risks.
Happy Weekend & Keep us all safe... 🙏
