EXNESS - Analytics

    EXNESS

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    EURJPY: consolidation before publication of the business activity indexes in the Eurozone

    Buy on a level breakthrough of 128.18 with 128.74 target. Stop loss = 127.68.

    Reason for the trading strategy

    If the business activity indexes in the Eurozone's manufacturing and service sectors are revised upwards today, the demand for the euro will rise. At the same time, the multi-billion dollar support, provided by the Bank of China to the financial system, puts pressure on the yen. In the short term, the EUR/JPY pair could test the level of 128.74.


     

    EURJPY, H4


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