Buy on a level breakthrough of 124.00 with 124.61 target. Stop loss = 123.50.
Reason for the trading strategy
Today at 12.00 GMT, the preliminary assessment of consumer inflation growth in Germany will be published. In May, it is expected to accelerate from -0.1% to 0.1% per annum. This maintains optimism regarding the euro. Meanwhile, the Japanese currency serving as a protective asset continues to be under pressure due to the reports about a possible postponement of the increase of the sales tax in Japan at a later time. The decision to postpone the deadline will be officially announced on June 1.
Reason for the trading strategy
Today at 12.00 GMT, the preliminary assessment of consumer inflation growth in Germany will be published. In May, it is expected to accelerate from -0.1% to 0.1% per annum. This maintains optimism regarding the euro. Meanwhile, the Japanese currency serving as a protective asset continues to be under pressure due to the reports about a possible postponement of the increase of the sales tax in Japan at a later time. The decision to postpone the deadline will be officially announced on June 1.
Exness - The EURJPY pair is approaching the level of 124
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