EUR/JPY 170 Level for short

16 jam yang lalu

In the coming months, I believe that every XXX/JPY pair will probably remain in a prolonged downtrend that will be combined with recession fears for the US and EU. The euro is not at its strongest position currently, and the market knows that continuous war outbreaks and conflicts (Ukraine-Russia, Iran-Israel, China-Taiwan) will only add more pressure and volatility to an overvalued currency of a block that is dependent deeply on foreign countries regarding its trade flows and energy demands. Thus, I believe an imminent devaluation of the euro will be unavoidable in 2025. The yen will benefit from the current financial conditions with volatility staying elevated in the equity and currency markets.