EXNESS - Analytics

EXNESS

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EURJPY: consolidation in the range of 133.31-134.57

Sell on a level breakthrough of 133.31 with 132.74 target. Stop loss = 133.81.

Reason for the trading strategy

In October, the volume of industrial production in Germany increased by 0.2% (m/m) being below the forecast of 0.8% (m/m). In annual terms, the growth rate totaled 0%, with a forecast of 0.7%. The negative statistics can put pressure on the euro cross-rates. The exit of the EUR/JPY pair beyond the range of 133.31-134.57 will signal the opening of its respective positions.

EURJPY, H1

EURJPY



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