Day two: our EUR/JPY trade

Yesterday I looked at buying EUR/JPY on dips into the 137 region.

EUR/JPY traded to a low of 137.02 which we will run with as an entry level. There was a big run up in the pair yesterday, printing a high 137.99 before some bearish comments by ECB members saw encouraged profit taking on the euro.

EUR/JPY has since retreated to 137.30 ahead of a few quiet days on the European and Japan economic front.

BoJ minutes released this morning have not had much of an impact at all and we’ll continue to look ahead to CPI data on Friday as the key event.

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