History shows that the euro usually climbs against the Japanese yen in October.
It might be prudent for those seeking to go long the single currency to invest in EUR/JPY as an alternative to the EUR/USD that .
EUR/JPY's seasonal performance shows it has posted a positive return in 13 of the last 23 Octobers, including in 2021 and 2022.
Seasonality should not be considered in isolation, but when combined with other factors it can be a useful tool.
As the European Central Bank policy rates are well above the Bank of Japan's, and markets expect this to remain the case for the foreseeable future, this keeps the overall bias of EUR/JPY on the upside.
EUR/JPY's 60-day correlation with USD/JPY in October is well above +0.7, meaning the two currency pairs continue to move in tandem with each other.
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