Trading Outlook – EUR/JPY
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Originally updated: 06:53am
Status: Pending
Trading period: SHORT
Currency pair: EUR/JPY
Entry: 142.85-143.00
Take profit: 141.85
Stop: 143.20
Sentiment: Bearish
Market Focus: In today’s trade set up we will be focussing on selling opportunities on the EUR/JPY.
Fundamentals: Asian shares plunged lower today as investors switch to a risk averse stance, this after oil plunged 5% yesterday and Greece’s political uncertainty about leaving the eurozone weighs on the minds of many. Still in the spotlight is the ECB’s woes of trying to fight off deflation, with many thinking they will initiate QE later this month.
Technicals: I am looking for selling opportunities on any decent rallies today, with a decent resistance area eyed out at 142.85 area.
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