Trading Outlook – EUR/JPY

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Originally updated: 06:50am

Currency Pair: EUR/JPY

Sentiment: Bearish

Market focus:

In today’s trade set up we will be focussing on short term selling opportunities on the EUR/JPY.

Fundamentals:

The Yen snapped back early today after Japan’s Finance Minister Taro Aso said the JPY had weakened too rapidly. Looking at the troubled eurozone we have the ECB looking to initiate its ABS program by as early as today. ECB President Mario Draghi will be speaking this morning.

Technicals:

We have a nice confluence zone at 148.65-148.85. This should offer short term resistance for any pullback.

Stop loss could be placed at 149.15

Take profit target: 148

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Source:: Trading Outlook – EUR/JPY

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]

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