Buy on a level breakthrough of 135.89 with 136.67 target. Stop loss = 135.30.
Reason for the trading strategy
This afternoon, the data on the trade balance and the second estimate of GDP in the euro zone will be published. It is expected that the first index in December will grow from 20 billion to 21.3 billion euros, and the GDP growth rate in Q4 2014 will remain at 0.2% (q/q). We believe the statistics will support the pair EUR/JPY.
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USD was taking damage from the Wednesday Donald Trump specch until yesterday evening. Lack of details on economic and fiscal agenda at the first press conference of the president-elect caused a correction on equities boosted since the US elections...
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