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22 Jun 2015
EUR/JPY bid on Greece, so far so good
FXStreet (Guatemala) - EUR/JPY is currently trading at 140.00 with a high of 140.63 and a low of 139.426.
EUR/JPY is riding the bullishness that comes from the headlines surrounding the Greek's progress with the EU leaders at the start of this week's negotiations. The bullish gap got filled but turned bullish again until meeting supply at aforementioned highs. The cross has been supported thereafter down at current levels.
Greeks buying more time or serious proposal under way?
We have had a number of calls from the media sighting that a deal could be passed this week given the initial talks with details that we have not been privy to yet. However, it appears that Athens are getting their act together and coming forward with plausible proposals that have so far given EU leaders hope that all can be rectified and agreed upon this week in respect to the Greeks debts and terms of repayments. The summit is coming up but it is unlikely that details of this or a statement will be released nor a deal confirmed.
EUR/JPY technically neutral/bearish
Technically, the cross has turned bullish in Asia with a bullish gap. We are yet to see a break of 140.65/00. This would be very bullish and would leave a case for a buy on dips strategy in a 'rational market'. However, there may plenty of volatility this week around the Greek crisis and the possibility of a Grexit should things be unresolved.
EUR/JPY is riding the bullishness that comes from the headlines surrounding the Greek's progress with the EU leaders at the start of this week's negotiations. The bullish gap got filled but turned bullish again until meeting supply at aforementioned highs. The cross has been supported thereafter down at current levels.
Greeks buying more time or serious proposal under way?
We have had a number of calls from the media sighting that a deal could be passed this week given the initial talks with details that we have not been privy to yet. However, it appears that Athens are getting their act together and coming forward with plausible proposals that have so far given EU leaders hope that all can be rectified and agreed upon this week in respect to the Greeks debts and terms of repayments. The summit is coming up but it is unlikely that details of this or a statement will be released nor a deal confirmed.
EUR/JPY technically neutral/bearish
Technically, the cross has turned bullish in Asia with a bullish gap. We are yet to see a break of 140.65/00. This would be very bullish and would leave a case for a buy on dips strategy in a 'rational market'. However, there may plenty of volatility this week around the Greek crisis and the possibility of a Grexit should things be unresolved.