Buy on rebound from 138.00 level with 141.05 target. Stop loss = 137.50.
Reason for the trading strategy
In April, the current account surplus in the eurozone increased from 18.0 billion to 22.6 billion euros. The data reflect a growth in demand for products and services from the eurozone, providing little support to the euro cross rates. Uncertainty about the Greek debt restructuring causes market participants to sell the EUR/JPY pair.