EURJPY - BUY - 30th May 2022




EURJPY - BUY - 30th May 2022 (Closed)


Good morning team,

 

Fresh week! This morning we are looking to long against the JPY which is considered a safe-haven currency. Risk assets took a strong bounce towards the end of last week and the technicals are suggesting a continuation to the upside for indices. This suggests a weaker JPY due to investors rotating out of the safe-haven assets and back into higher risked/performing assets. We are looking to take a position on the French index later this evening also.

EURJPY 4 Hour Chart

Trade Setup: Buy market execution, current price 136.54, stop loss 135.21 and take profit target 139.14. 

Stop loss: 133 pips

Take profit: 260 pips

The AUDJPY and other JPY cross pairs have already broken out to the upside indicating a change into a bullish trend.

Trade Setup
BUY - Market Execution

Entry
136.54

Take Profit
139.14

Stop Loss
135.21