EUR/JPY update

EUR/JPY hit my ¥134.00 target for a 357 pip profit. As you can see from the daily chart, the downtrend is firmly in play.

Source: Bloomberg

All eyes on another weekend looking at headlines from the next ‘key’ Euro Summit. It’s with a sense of irony that the song ‘The Final Countdown’ came from a band called ‘Europe’.

I feel the prospect of a deal is actually increasing although a failure to come up with a deal on Sunday could see a third week of gapping risk. We will write more about the event risks in today’s afternoon market wrap

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