Instrument: EURJPY
Bullish Preference:
A buy position is envisaged if the price trades above 158.820 with take profit at 159.123
Bearish Preference:
A sell position is envisaged if the price trades below 157.770 with a take profit at 157.437
Fundamentals:
No Major fundamental
Comment:
European stock markets traded in a mixed fashion Monday, as investors digested better-than-expected German inflation numbers as well as persistent concerns about Chinese economic growth.
European investors received a minor boost Monday after German wholesale prices fell 0.2% to the month in July, considerably better than the 1.4% drop expected, a sign of life in the battered German economy.
That said, this still represented an annual fall of 2.8% as the eurozone’s largest economy struggles with the toxic mix of weak trading with key partner China and a slump in its large manufacturing and construction sectors.
Analysis: SCRUM Team