Instrument: EURJPY
Bullish Preference:
A buy position is envisaged if the price trades above 158.395 with take profit at 158.568.
Bearish Preference:
A sell position is envisaged if the price trades below 157.993 with take profit at 157.817.
Fundamentals:
No major Fundamentals
Comment:
The EUR/JPY cross attracted some buying during the Asian session on Monday. The Japanese Yen (JPY) weakened after reports indicated that the Bank of Japan (BoJ) will purchase an unlimited quantity of government bonds. That said, fears of intervention by Japanese authorities, along with a generally weaker risk tone, limit losses for the safe-haven JPY and cap gains for spot prices, at least for the time being.
Analysis: SCRUM Team