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EUR/JPY Fell to 130.00 from 131.75 as Euro Weakens

Posted by Chris Advincula on Mar 10, 2015 8:57:00 AM

EURJPY.3.10 resized 600Chart: WorldWideMarkets Alpha Trader

The EUR/JPY cross makes its way lower to 130.00 as the Euro fell across the board amid market concerns on Greece's ability to repay its debt resurfaced. Greece faces a EUR 1.5 Billion loan repayment to IMF this month.

German 10-year govt bond yields fall to a record low of 0.28% as the ECB initiates the second day of its asset purchase QE program that will pump over 1 trillion euros into the EU economy.

Nikkei futures are lower since Monday and negative 30-day correlation to EUR/JPY -0.55. Euro-yen sentiment remains bearish as yen safe haven buying continues.

Japan Prime Minister Abe said falling oil prices are positive for Japan's economy. No problem for economy with USD around 120 yen.

 

Topics: EURO, EUR/JPY, forex trading, US Dollar, European Session, Fundamental Analysis, BOJ

 

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