EXNESS - Analytics

    EXNESS

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    EURJPY: consolidation below the level of 133.37

    Buy on a level breakthrough of 133.37 with 134.27 target. Stop loss = 132.87.

    Reason for the trading strategy

    Recently, the ECB and the Bank of Japan kept the volume of the asset purchases program unchanged. Some market participants believe that in December the ECB will expand its quantitative easing measures. In the coming weeks, the dynamics of the EUR/JPY pair will depend on the incoming economic data for the Eurozone and Japan. Today, it is worth paying attention to M.Draghi's speech. A tougher rhetoric coming from the Head of the ECB with regard to the Eurozone's monetary policy will support the EUR/JPY pair.

    EURJPY, H4

    EURJPY


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