EURJPY Trade Idea (13th February 2020)
Currency Pair: EURJPY
Timeframe: H1
Date/Time of Signal: 13th February 2020 / 1500hrs (SGT)
Review:
Fresh surge in coronavirus cases in China today should strengthen safe haven currency such as Yen and US dollar.
Yesterday’s (12th February 2020) Industrial production report from Germany resulted in a negative sentiment toward the euro which could pointed to the likelihood of recession in Germany, thus impacting Euro zone.
EURJPY has been on a downtrend and the price broken through the Support zone of 119.60.
Following the trend, trade signaled to sell EURJPY (Entry: 119.38) with 3 Take Profit (TP) Targets (TP1: 119.18, TP2: 178.98, TP3: 118.78) and Stop Loss (SL) at 119.68.
Timeframe: H1
Date/Time of Signal: 13th February 2020 / 1500hrs (SGT)
Review:
Fresh surge in coronavirus cases in China today should strengthen safe haven currency such as Yen and US dollar.
Yesterday’s (12th February 2020) Industrial production report from Germany resulted in a negative sentiment toward the euro which could pointed to the likelihood of recession in Germany, thus impacting Euro zone.
EURJPY has been on a downtrend and the price broken through the Support zone of 119.60.
Following the trend, trade signaled to sell EURJPY (Entry: 119.38) with 3 Take Profit (TP) Targets (TP1: 119.18, TP2: 178.98, TP3: 118.78) and Stop Loss (SL) at 119.68.
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