hr: Currency

Photo Credit: CoCreatr

If you like playing EUR-JPY, then another opportunity to do so is presented before you. This is so, because price action has pulled the pair right where it previously was — the top of the channel.

Now the question is: Will the channeling behavior of the pair continue?

Photo Credit: ArchiM

In this case a simple approach would be to short the top of the channel.

Here are some fundamental analysis factors you must take into consideration: the Japanese core machinery orders, the trade balance as well as the industrial production data of the Eurozone, and of course, the EU decision on interest rates.

One thing though: Will the ECB hold its ground and remain hawkish on inflation, or will they start addressing the issue regarding the economic slowdown?

This looks like the thing to do is short the market with a wide stop in consideration of future data.

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