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The EUR/JPY currency pair, which expresses the value of the euro in terms of the Japanese yen, has traded with no consistent bias in recent times. Rising in Q4 2019, falling through much of 2020, before spiking through May; most recently the pair is falling.
(Chart created by the author using TradingView. The same applies to all subsequent candlestick charts presented hereafter.)
The sharp rise through May was unexpected on my part. In my previous article covering EUR/JPY specifically, I believed that the pair would trade lower to 115 (from the then