Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
Trade ideas for EUR/JPY
2019-11-11 • Updated
SELL 122.05; TP 121.30; SL 122.30
SELL 121.25; TP 120.90; SL 121.35
EUR/JPY is correcting up. There’s a bullish impulse on H4. However, the overall trend remains bearish. Moving averages are in a negative position. As a result, we think about selling the pair on rallies.
The upcoming events will surely bring volatility: the euro area will release flash CPI figures at 12:00 MT time today. In addition, the European Central Bank will meet on Thursday. All in all, the euro area has a lot of economic and political problems and is vulnerable to China’s economic slowdown, so we don’t think that the euro will be able to reverse to the upside.
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