EXNESS - Analytics


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EURJPY: consolidation in the range of 132.35-132.70

Sell on a level breakthrough of 132.35 with 131.85 target. Stop loss = 132.85.

Reason for the trading strategy

In September, the industrial production in Germany fell by 1.1% (m/m) with a forecast of 0.6% (m/m) growth. The data indicate a contraction in the real sector of the Eurozone's largest economy. At a breakthrough of the support level of 132.35 opening short positions for the EUR/JPY pair is worth considering.



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