28.10.2014 9:09 EURJPY
EURJPY: consolidation under the 137.30 resistance level
Buy on a level breakthrough of 137.30 with 137.93 target. Stop loss = 136.80.
Reason for the trading strategy
Before the next gas talks between Ukraine, Russia and the EU, the euro cross rates show a tendency to increase. We believe that the demand for the EURJPY pair will increase as soon as the 137.30 resistance level is broken.
21.11.2014 9:09 EURJPY
The EURJPY pair may decline to the 146.54 level
Buy on rebound from 146.54 level with 147.50 and 148.50 targets. Stop loss = 146.00.
Reason for the trading strategy
The dissolution of the lower house of the Japanese parliament, which actually pushed Japan into recession in Q2 - Q3 2014, led to a rise of the yen on the foreign exchange market. As a result of this, institutional investors, covering shorts in the yen, recorded a large profit.
27.11.2014 8:08 EURJPY
EURJPY: consolidation before the publication of the number of unemployed in Germany
Buy on a level breakthrough of 147.36 with 149.15 target. Stop loss = 146.80.
Reason for the trading strategy
This afternoon the number of unemployed in Germany will be published. The decline expected in November will signal an improvement in the labor market in Germany, which is the engine of the European economy. Opening long positions in the EURJPY pair should be considered at a level break through of 147.36.