EUR/JPY: Pause Before Higher; A Setup For Buying Dips Targeting 135 – TD

TD Research notes that EUR/JPY has stalled near the 50% Fibo retracement level from the 2014/2016  high/lows.

“We view this as a pause that will refresh higher as we remain core EUR bulls. This, we think, offers an attractive/cleaner leg to express idiosyncratic JPY risks,” TD argues.

Strategy-wise, TD thinks that 127.70 offers the first level of decent support to refresh long exposure in the event the ECB/Draghi disappoints, with 125.50/80 as very durable pivot.

On the topside, TD would eye a move towards 135 initially

Source: TD Securities Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews

from Online Forex Trading Resource
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