EUR/JPY displaying volatility – more to come?

FXStreet (Guatemala) – EUR/JPY is trading at 147.52, up 0.01% on the day, having posted a daily high at 147.71 and low at 147.21.

EUR/JPY fell away from the 148 handle with support holding up at the mid-point to the downside into 147’s and this failed on second attempt down to 147.20 where the cross has drifted higher in the US ad into congestion zone again at current levels.

It has been a volatile day in Europe with the greenback taking the lead from the back of the ECB’s injection of liquidity to help smaller businesses but disappointing with the sums of euros. The US data has also been better than expected and the Yen was taken back even further against yesterdays demand for the Japanese currency.

In the last trading session for Tokyo before the elections, markets might be thin if positions have been lightened of fully exited ahead of the event. Meanwhile there may be some flow getting on the offer in light of BoJ’s Kuroda speaking earlier to a forum of economists in Tokyo explaining that the inflation target of 2% is in sight, noting also that falling oil prices, (US session too crude WTI below $60) would be good for the economy’s growth in the long run.