Daily Market Analysis 26.05.2023: EURJPY

Instrument: EURJPY

Technical Analysis

Bullish Preference: 
A buy position is envisaged if the price trades above 150.078 with take profit at 150.225.
Bearish Preference: 
A sell position is envisaged if the price trades below 149.803 with take profit at 149.666.
12:30am JPY Tokyo Core CPI y/y

Even though the Euro has garnered strength due to hawkish pressure on JPY, it will be interesting to see whether they cite the recent German GDP report in what has been an extremely hawkish narrative of recent.

Analysis: SCRUM Team

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