Buy on a level breakthrough of 123.75 with 124.62 target. Stop loss = 123.25.
Reason for the trading strategy
In April, the producer price index in Germany increased by 0.1% (m/m), with a forecast of 0.2% (m/m). In annual terms, the decline was 3.1%. The data signal an insufficiently high inflationary pressure in the Eurozone's largest economy. Meanwhile, the yen's weakness against the dollar contributes to a growth in the EURJPY pair.
Reason for the trading strategy
In April, the producer price index in Germany increased by 0.1% (m/m), with a forecast of 0.2% (m/m). In annual terms, the decline was 3.1%. The data signal an insufficiently high inflationary pressure in the Eurozone's largest economy. Meanwhile, the yen's weakness against the dollar contributes to a growth in the EURJPY pair.
Exness - EURJPY: growth against the background of a weakening yen
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