Exness - EURJPY: growth against the background of a weakening yen

Buy on a level breakthrough of 112.60 with 114.73 target. Stop loss = 112.10.


Reason for the trading strategy

After the elections to the upper house of the Japanese parliament held last weekend, the ruling coalition of the Liberal Democratic Party and the "Komeito" party received two thirds of the seats; they already have the same number in the lower house. That is enough for the Japanese MPs to vote for the adoption of new measures to stimulate the Japanese economy.

Exness - EURJPY: growth against the background of a weakening yen

Exness - EURJPY: growth against the background of a weakening yen

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.

Exness - EURJPY: growth against the background of a weakening yen