EXNESS - Analytics

    EXNESS

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    EURJPY: consolidation in the range of 131.17-131.78

    Buy on a level breakthrough of 131.78 with 132.71 target. Stop loss = 131.28.

    Reason for the trading strategy

    The adjusting growth of the euro against the US dollar US is supporting the EUR/JPY pair. The market participants are intrigued by ways to be chosen to increase the growth rate of the Japanese economy. Among the two options: an expansion of the quantitative easing in Japan and a reduction in the tax burden, the Japanese authorities are likely to prefer the first one. Note that Japan's public debt against its GDP is around 250%. Reducing the tax burden can be realized in growth of the index of up to 260-270%, and lead to Japan's rating being downgraded (and a weakening of the yen).

    EURJPY, H1

    EURJPY


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