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The EUR/JPY is widely considered to be a safe haven trade and it’s becoming increasingly popular among investors. The currency pair is associated with strong movements and although often compared to the EUR/GBP pair, it typically moves almost twice as much in terms of pips. In recent times, the Japanese Yen has been on the rise, and this appreciation is expected to continue in the foreseeable future. The peculiar nature of this pair makes it best suited to trend traders.
This currency pair is an excellent gauge of the Japanese economy against the European one. When news comes out, the prevailing prospects of each country are reflected on its movement, as a rule.
Keep in mind that Japan is very dependent on oil exports, so a jump in Brent prices may cause a noticeable drop in the yen. In general, EUR/JPY is well suited for long and medium-term trading. Its average daily range is 112 points.
If you are interested in trading the EUR/JPY currency pair, contact FxPro today.
client accounts
FxPro has been providing online trading services to clients since 1999 and it currently serves 173 countries worldwide.
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