Sell on a level breakthrough of 138.12 with 137.59 target. Stop loss = 138.60.
Reason for the trading strategy
In August, the preliminary composite business activity index in the Eurozone was 54.1 p., with a forecast of 54.2 p. The news is moderately negative for euro cross rates. On a resistance level breakthrough of 138.12, opening short positions in the EUR/JPY pair is worth considering.