In terms of the fundamentals, the shocking SNB decision to unpeg the Franc’s tie to the Euro means a large buyer of Euro has just stepped away from the market, the decreased demand is likely to extended the market’s sentiment of the Euro . Adding to that factor, we have the Greek election coming up, and other Euro-Zone political factors which may stoke the fires of the Euro’s precipitous decline.
Meanwhile, Japan remains in wait for the next round of . It appears that the latest round of has been absorbed in the Yen’s pricing, and currently, the risk off sentiment of the global market tends to suggest a strengthening yen.
The EUR/JPY is traditionally correlated with the equity markets, and so a medium to long-term short on this pair can be an alternate route of action for anyone wanting to profit from the momentum in worldwide stocks at the moment.