EXNESS - Analytics

    EXNESS

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    EURJPY: growth against the background of a weakening yen

    Buy on a level breakthrough of 129.66 with 131.05 target. Stop loss = 129.00.

    Reason for the trading strategy

     In November, the volume of industrial orders in Germany fell by 0.3% (m/m) with an expected 0.4% (m/m) growth. The EUR/JPY pair ignores the weak statistics on Europe's largest economy and is trying to grow, taking advantage of the yen's weakness, which is under pressure due to lower investor appetite for defensive assets.

    EURJPY, H4


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