Buy on a level breakthrough of 128.21 with 128.74 target. Stop loss = 127.71.
Reason for the trading strategy
Andreas Dombret, the Head of the Committee on Banking Supervision at the Central Bank of Germany, said that European banks holding EU government bonds should prepare for a substantial tightening of the requirements for the reserve capital against the background of a gradual introduction of the "Basel 3" standards. The euro cross rates do not pay attention to this news. The weakness of the yen on the foreign exchange market contributes to a growth in the EUR/JPY pair.