20 Feb 2015
EUR/JPY: Dips lower post Eurogroup press confenece
FXStreet (Guatemala) - EUR/JPY is trading at 135.41 with a high of 135.91 and a low of 133.54
EUR/JPY is offered post the Eurogroup press conference and a little late in the day to start taking positions ahead of the weekend, although the result was as expected. A deal has been reached on common ground so that work can now begin.
On Monday, the Greeks have to deliver the list of reforms in line with what has been agreed today. A review will be made upon the list by the EU members
on Tuesday. There has been a four month extension to the bailout programme to offer Greece time to recapitalize their banks and to continue with the reform and reviews of the current agreement where there will be flexibility to allow time to bridge discussions between Eurogroup Greece and EU institutions and Greece for a possible follow up agreement where the IMF will continue to play its roll.
The euro may well become bid next week on the back of the requirements expected of Greece being met in a timely fashion and on that basis, on any further advancements, above 136.70 lies the 200 day ma at 139.42. Karen Jones, chief analyst at Commerzbank said that her team will look for the market to remain capped here.
EUR/JPY is offered post the Eurogroup press conference and a little late in the day to start taking positions ahead of the weekend, although the result was as expected. A deal has been reached on common ground so that work can now begin.
On Monday, the Greeks have to deliver the list of reforms in line with what has been agreed today. A review will be made upon the list by the EU members
on Tuesday. There has been a four month extension to the bailout programme to offer Greece time to recapitalize their banks and to continue with the reform and reviews of the current agreement where there will be flexibility to allow time to bridge discussions between Eurogroup Greece and EU institutions and Greece for a possible follow up agreement where the IMF will continue to play its roll.
The euro may well become bid next week on the back of the requirements expected of Greece being met in a timely fashion and on that basis, on any further advancements, above 136.70 lies the 200 day ma at 139.42. Karen Jones, chief analyst at Commerzbank said that her team will look for the market to remain capped here.