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Mohammed Abdullah

EUR/JPY

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The EURJPY has fallen due to a couple of factors. Firstly due to the risks associated with coronavirus we have seen money flow into JPY as a safe haven. There has also been other market risks on top of that but the virus has been the main cause.

Secondly we have seen some bad data out of Germany and with it being the biggest economy in Europe and seemingly on a bit of a decline economically, we have seen a drop in the Euro currency as a whole. Europe also has economical issues in other countries which has also contributed to the Euro's decline.

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I forgot to answer the last part. As for where it could head to, I believe that there is still downside to be priced in and so while I can't give you a definitive answer on whether we will see 118 hit, I do think it is a possibility

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