EXNESS - Analytics


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    EURJPY: consolidation in the range of 117.12-119.12

    Buy on a level breakthrough of 119.12 with 120.30 target. Stop loss = 118.50.

    Reason for the trading strategy

    Japanese Finance Minister Taro Aso, who had earlier promised to take action in the event of exchange rate volatility, said today that the government would not hurry with an intervention in the foreign exchange market (against the background of the threat of the UK's exit from the EU). According to him, if the USDJPY changes by 5 yen in a few days, it can be possible to say that the foreign exchange market is unstable. Currently, we maintain our neutral view on the yen cross rates. With the EURJPY pair exiting from the range of 117.12-119.12, opening respective positions in it should be considered.


    EURJPY, H1


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