EUR/JPY tumbles on Syrian civil war escalation fears

FXstreet.com (Athens) – EUR/JPY is moving downwards on Tuesday’s morning European session on ‘Syrian war’ and ahead of German IFO.

Syria concerns dent sentiment toward risky assets.

The common currency lost major ground against its Japanese counter-part, as Syrian jitters wound substantially the ‘risk-appetite’ environment. In Germany the IFO survey for August will give the latest update on business conditions in the engine-room of the Euro zone; it is expected to edge up from 106.2 to 107.0. Last but not least, Japanese small business confidence for August, boosted to 49.7 versus 49.4.

Technical outlook on EUR/JPY

At the time of writing, the pair …read more