EUR/JPY correlation

I almost never trade eur/jpy but would like to know if somebody is well aware and expert about its correlations or about what influences this pair

I think there is a correlation with usd-jpy, but im not sure with eur-usd

thanks for help

here's a related thread:

http://www.forexfactory.com/forexfor...ead.php?t=9299

There is another thread, "Trade Correlation", on the same page as this one. It has a link to a table that provides correlations.

BTW, EUR/USD and EUR/JPY have a 82+ correlation.

andersenws

thanks
I give a look

EUR/JPY veterans what do you think about the next move ?

Technically I see a nice short @151.04 with stop above 151.30 for a target of 150.60-150-40

Any suggestion about this pair ?

Thanks
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I don't think this whole correlation thing is actually that difficult.
Of course EURJPY, EURUSD and USDJPY are correlated, because every two of them share one same currency. If there is EUR news the first two will move. On the other hand, if there is USD news, EURJPY won't move a pip.

At the moment most fundamentalists expect the yen to strengthen, central banks have indicated buying yen and the politicians think a stronger economy should have a stronger currency. If that happens, both USDJPY and EURJPY (and GBPJPY and ...you get the idea) will fall.

I think it will. Biggest turnover in forex is on EURUSD (28%) which means if dolar is going up then it will push EUR down and that affects EURJPY cross.

Regards,
Lw

Bug Note this :

Eur-jpy technically should have started its short from 150.96 max
It jumped to 151.07, and this because usd-jpy aslo went back to 117.90 nd didint have the same selling $ reaction as euro and pound had in testing again the high of yesterday.
This makes me think that there is not all this great interest in buying jpy against the $, and if this is the case, eur-jpy will most probably go up instead of down, especially if the euro - usd is busllish.
Will see on sunday asia session

Well i closed my eur/jpy short yesterday. I opened it 5 days ago and it was in the red bleeding. Took advantage of the spike downwards and dumped my lots! managed to get out with a small gain of 4 pips =p

And while waiting, you were loosing on the swaps.

I opened a short a few hours ago @ 151.34 based on PB on H4 and forming strong PB on daily. Just not sure whether it will bounce off the TL on H4 @ ~151.10 or whether it's down all the way to daily TL and 150.00-20.

Hopefully the later

I hope you are right that EURJPY (or GBPJPY or USDJPY) would drop as I am waiting to BUY em back up.