EUR/JPY

The Euro is consolidating its losses before taking another dive

As price action kicks off this early European Tuesday morning we will turn the attention of binary options traders to one of our favourites – the EUR/JPY pair. As we drew closer to the Japanese market opening we saw yet another spike higher to levels around 131.30 – almost testing highs set on the 19th-20th of May.

Fresh loath of data released on Wednesday confirmed that the ECB is rightfully worried about lending to small and medium sized businesses. In today’s analysis we are focusing the attention of binary options investors to the kinky pair of EUR/JPY. You might question the usage of the word “kinky”, but it is exactly how we feel about it these days.

One of the most volatile pairs in the past 24 hrs. is the EUR/JPY. And as are many binary traders we also are keen to predict which direction the market is going to take. Overnight news out of China did weigh heavily on the pair.

Overnight some disturbing news out of North Korea possibly accompanied by a comment by Japanese economy minister Amari that JPY strength has been largely corrected sent the EUR tumbling as increased risk and jawboning did hit all the JPY crosses.