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Eurjpyprediction

EURJPY bounced from support, potential for a further rise! EURJPY bounced off 118.500 where it could potentially rise further to 120.500. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone
EURJPY Fundamental Analysis – September 20th 2019Here are the key factors to keep in mind today for Euro trades: German PPI: The German PPI for August increased by 0.5% monthly and by 0.3% annualized. Economists predicted a decrease of 0.2% monthly and an increase of 0.6% annualized. Forex traders can compare this to the German PPI for July which increased by 0.1% monthly and by 1.1% annualized. Advanced Eurozone Consumer Confidence: Advanced Eurozone Consumer Confidence for September is predicted at -7.0. Forex traders can compare this to the previous Eurozone Consumer Confidence for September which was reported at -7.1. Here are the key factors to keep in mind today for Japanese Yen trades: Japanese National CPI: The Japanese National CPI for August increased by 0.3% annualized. Economists predicted an increase of 0.3% annualized. Forex traders can compare this to the Japanese National CPI for July which increased by 0.5% annualized. The Japanese National Core CPI for August increased by 0.6% annualized. Economists predicted an increase of 0.5% annualized. Forex traders can compare this to the Japanese National Core CPI for July which increased by 0.6% annualized. The Japanese National CPI Excluding Fresh Food for August increased by 0.5% annualized. Economists predicted an increase of 0.5% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for July which increased by 0.6% annualized. Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for the period ending September 13th was reported at ¥476.0B and Japanese Buying Foreign Stocks was reported at ¥63.9B. Forex traders can compare this to Japanese Buying Foreign Bonds for the period ending September 6th which was reported at ¥727.2B and to Japanese Buying Foreign Stocks which was reported at -¥25.4B. Foreign Buying Japanese Bonds for the period ending September 13th was reported at ¥1,269.5B and Foreigners Buying Japanese Stocks was reported at -¥971.9B. Forex traders can compare this to Foreign Buying Japanese Bonds for the period ending September 6th which was reported at ¥441.1B and to Foreigners Buying Japanese Stocks which was reported at -¥161.3B. Should price action for the EURJPY remain inside the or breakdown below the 118.950 to 119.800 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 119.250 Take Profit Zone: 115.850 – 116.550 Stop Loss Level: 120.700 Should price action for the EURJPY breakout above 119.800 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 120.700 Take Profit Zone: 122.300 – 123.350 Stop Loss Level: 119.800
by PaxForex