25.08.2014 9:09 EURJPY
In the short-term perspective, the EURJPY pair may test the resistance level of 138.00
Buy on rebound from 137.33 level with 138.00 target. Stop loss = 136.80.
Reason for the trading strategy.
Significant weakening of the yen against the United States dollar contributed to the purchasing of other yen courses, including the EURJPY. Meanwhile, a statement by M. Dragi on the readiness of the ECB to take additional measures to fight deflation in the euro zone will continue to be a medium-term bullish factor for the euro. From a technical point of view, after adjusting the support level of 137.33, the EURJPY pair may again attempt to test the level of 138.00.
EURJPY, Daily
In the short-term perspective, the EURJPY pair may test the resistance level of 138.00
Buy on rebound from 137.33 level with 138.00 target. Stop loss = 136.80.
Reason for the trading strategy.
Significant weakening of the yen against the United States dollar contributed to the purchasing of other yen courses, including the EURJPY. Meanwhile, a statement by M. Dragi on the readiness of the ECB to take additional measures to fight deflation in the euro zone will continue to be a medium-term bullish factor for the euro. From a technical point of view, after adjusting the support level of 137.33, the EURJPY pair may again attempt to test the level of 138.00.
EURJPY, Daily
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