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Thinking of trading EURJPY?

    1. The EUR / JPY exchange attracts the attention of traders because they are two substantially independent economies. The fact that the European Union is one of Japan's commercial partners which, in turn, is strongly oriented towards the US and Chinese market means that market participants can develop their own theories in relation to the trend that the pair will undertake. 2. Finally, the Euro / Yen exchange rate is noteworthy due to the dependence of the two currencies on the respective central banks. The Bank of Japan, unlike the ECB , is strongly oriented towards the control and intervention on the exchange rate trend of the Japanese currency.
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Yen was officially adopted by the Meiji government in the year 1871, whereas the EUR was presented on 1999. Its growth is due to Japan's industrial base, such as agricultural enterprises and a thriving technology industry. On the other hand, the history of the Euro is much shorter. It is less common to use a nickname for the major EUR/JPY but when it is used, we often hear Euppy or Yuppy.The prices in which the EUR/JPY has ranged among the years are its peak, in 2008, trading at 168.660 and 2012 as its lowest point, trading at 96.081. The Euro dip would be due to the European recession. When it comes to the EUR, the factors that impact its price the most would be limited to economic, political and financial events. The Yen, on the other hand, has a wider variety of factors. Among them, the import and export trade, natural disasters and the quality of the JPY to be considered a Safe Haven.

1. The quality of the Yen as a safe-haven currency might play in the trader's advantage. Due to European times of uncertainty, trading this pair will seem reasonable to many. During the financial crisis, unstable market in 2010, during Italian elections in 2013 and in many other phenomenons, the yen has seen itself rise between a 20%, 10% and 5% respectively. Watch out for Brexit as EUR/JPY might play to be the winning pair. 2. Other things to keep in mind when trading the EUR/JPY would be the fact that the Japanese authorities are somewhat freer when it comes to launching new initiatives to lower the currency's value in order to increase exports. If you have positions in the EUR/JPY you should keep an eye out, as these initiatives tend to have little to no warning.