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.


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