Buy on rebound from 123.25 level with 124.41 target. Stop loss = 122.75.
Reason for the trading strategy
In April the Japanese and European regulators rejected a further expansion of the monetary measures to stimulate the national economies, which did not allow the EURJPY pair to form a significant trend. Currently, its reduction to the level of 123.25 is observed. Market participants do not take Shinzo Abe, the Prime Minister of Japan, seriously when he talks about the possibility of an intervention to weaken the Japanese currency, which can happen only if the dollar declines below 100 yen. The Japanese authorities will beware of conducting interventions on the eve of the G7 summit, which will be held in the country in late May.
Reason for the trading strategy
In April the Japanese and European regulators rejected a further expansion of the monetary measures to stimulate the national economies, which did not allow the EURJPY pair to form a significant trend. Currently, its reduction to the level of 123.25 is observed. Market participants do not take Shinzo Abe, the Prime Minister of Japan, seriously when he talks about the possibility of an intervention to weaken the Japanese currency, which can happen only if the dollar declines below 100 yen. The Japanese authorities will beware of conducting interventions on the eve of the G7 summit, which will be held in the country in late May.
Exness - The EURJPY pair is sliding down to the level of 123.25
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