EUR JPY signals have become even one of the most wanted fforex telegram signals in a pair.
This currency pair brings with it unique characteristics worthy of economies as large as that of the European zone and the Japanese zone.
What is EUR / JPY?
When we talk about the euroyen pair, we are referring to deposits denominated in Japanese yen that are outside of Japan. EUR / JPY is the trade relationship between the Euro and the Japanese Yen, where you can determinate how many yens you need to buy euro.
The euroyen may also refer to the yen trading on the currency market.
The euro and the yen relationship in the currency market has different roots you may see while you grow in that environment.
With this currency pair the trader has the opportunity to demonstrate his intelligence and speed, since they can take advantage of his great volatility and liquidity.
What makes this pair so important to traders?
This is undoubtedly one of the most popular pairs in regards to the world currency market.
This pair represents nothing more and nothing less than 3% of all daily transactions and in addition to that, it is the seventh most widely traded currency pair. The reason is that their volatility levels are very high compared to other pairs.
Benefits of using EUR/JPY signals to trade in the market
There are certainly 6 currency pairs ahead of the eur / jpy to trade. However, we will give you some reasons why you should choose EUR / JPY as your new preferred pair.
- Volatility: This is one of the main reasons why anyone chooses pairs like these. Its volatility is very high.
A volatility like this makes for a great movement of pips and opportunities to benefit from present fluctuations.
- Stock indicator: this is undoubtedly a leader when it comes to stock indications.
- Competitive spreads: their spreads are relatively low compared to other currency pairs; this could mean more profit.
- Availability of resources: in this way the current technical analysis is easier than ever, that’s why in regards to this pair, its signals are much easier to find. In this way, candle charts and tables can be analyzed with good tools.
- Relative predictability: the eur / jpy signals are difficult to manipulate since it is a fairly predictable pair.
In this way, if you have some experience in the market, you will be able to know if a supplier is cheating you. On our website you can find some ways to get live forex signals without registration.
Factors influencing the EUR / JPY
When you are going to trade a couple of important currencies like these, it is important to keep in mind that there are factors that will affect their price and it is best to know them.
- Japanese imports vs. exports: as Japan is a global player, its current trade will always make a difference in the EUR / JPY exchange rates that are made, as a product of exports.
- Price of energy products: Japan has been the fourth largest importer of energy products such as crude oil. It is also the second largest importer of natural gas, so the relationship between the yen and the price of energy will have a significant impact on its prices.
- Economic strength: the EUR / JPY pair has been seen as a reflection of the current relationship between the euro zone and also the Japanese economy.
Because of that there is always uncertainty about the economic stability of Europe and its effect on Japan.
- Natural disasters: Natural disasters, especially in Japan, have a substantial effect on the Japanese economy.
- EU uncertainty: It is very normal that there are events that suggest instability within the EU and this will cause an imbalance regarding the currency pair.
Then, for example, a political disagreement over the future of the euro will weaken the euro against the yen. So, you should always be aware of news such as:
Meetings of the European Central Bank, the Purchasing Managers’ Indices, the consumer price index or inflation.
Cons of trading EUR/JPY even if you use trading signals
Certainly, this currency pair has many benefits, however, it may have one other disadvantage or risk.
- Leverage dangers: Leverage should normally bring you many benefits, if used correctly.
However, with pairs like these, leverage can often maximize losses.
- Automated competition: Despite directly meeting supply, demand and competitive rate differentials, this will always compete against sophisticated trading algorithms. In other words, you must continue to compete with bots that enter and exit different positions.
- Investment in education: This is a highly reactable pair, so geopolitical events often affect it directly.
Therefore, you should be vigilant and learn to interpret news and bank details.
EUR/JPY Best signals for you!
Now, once we have understood the thousand wonders of this currency pair, it is time to get down to business.
The signals that we are going to receive must be of the best quality and quite accurate.
Based on this premise, we set out to investigate a group of suppliers that give us the necessary tools and the best signals.
Let’s take a look!
Forex GDP is a provider that offers the trader a free subscription of premium signals for a month. These signals are received through WhatsApp.
There are also paid plans that start at $ 84 per month, which are between 8 to 12 signals per week.
Forex signals factory
In this case we find a completely free provider that offers signals for EUR / JPY. It is well known for being a very active provider on social media.
It offers around 15 signals per day of the pair you want.
Without a doubt a supplier that we always include in our counts due to its incredible performance and versatility. This in turn is also a Forex broker.
What more can you ask? It has different help tools such as the Autochartist, which scans the market and analyzes it to make the signals.
EUR JPY Signals summary
In the market it is difficult to rub shoulders with the big traders.
However, choosing the right currency pair along with some good signals, puts you closer to success.
Remember that the most important thing is not to increase profits, but to reduce losses and this is achieved by having the necessary tools to work. Keep following us on our website!