EURJPY: consolidation below the 129.12 level

March 20, 2015

Buy on a level breakthrough of 129.12 with 130.70 target. Stop loss = 128.50.

Reason for the trading strategy
In February, the producer price index in Germany increased by 0.1% (m/m), with a forecast of 0.2% (m/m). The February rise in oil prices increased the inflationary pressures in the country. Today, January's statistics on the euro zone balance of payments may support the euro cross rates.

EURJPY, H4

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