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Daily Market Analysis 23|06|2020: EURJPY

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Daily Analysis / Online Education

Daily Market Analysis 23|06|2020: EURJPY

Intraday: Bullish

Technical Analysis

Preference: 
Buy position is envisaged if price trades above 121.257 with take profit at key level 121.889.
Alternative scenario:
Sell if price trades below 120.755 with take profit at 120.574.
Fundamentals:
German Flash Manufacturing PMI 8:30am (EUR)
German Flash Service PMI 8:30am (EUR)
French Flash Manufacturing PMI 8:15 am(EUR)

Comment: The euro saw a string of positive news this morning as service and manufacturing PMI data came out positive, meaning Europe’s top economy grew in size, this a major boost to investors as this could be a sign that Europe is managing this pandemic more than other top world economy, making investment in the Euro a safer choice than the buck or even the yen.

Analysis: SCRUM Team

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