Market Perspective: EURJPY & USDx

The major trend for the EURJPY cross rate is still intact as the bigger technical perspective on the chart is bullish. The rapid acceleration of the USDJPY behind the fundamentals of the Japanese Yen and strength of the EURO have fueled the the EURJPY cross strength.

Monetary easing from Japan and renewed policy makers in Europe have been the reinforcing factors supporting this trend. That is unless some newer policy changes would take effect or announced to reverse price action in the market. And the FOMC minutes have outweighed these two remaining reasons until a fresh incentive would either reinforced the resurging strength of the US Dollar or otherwise investors confidence on the US economy deteriorates. Knowing these reasons and analyzing market behavior in line with price action would provide a better glimpse as to which currency pairs would best suite market conditions that can deliver a reasonable potential for a trade.
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