EUR/JPY On a Steady Sell Trend

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The safe-haven yen ticked higher this morning as Asian markets slumped on a fast-spreading deadly virus in China and amid broader market uncertainty over the proceedings at Davos. The EUR/JPY edged sharply lower, and as global bourses look set for more declines the pair is set to remain on a SELL trend. The euro is meanwhile locked in a narrow range before a European Central Bank (ECB) meeting on Thursday where it is expected to launch a comprehensive review of its strategy and inflation target. 

Markets could go lower this week especially with a weaker stock market and a further rush to safe havens.  

Technicals point to a correction in the charts with a bearish reversal.

Sell stop “we like to be short at” 121.90 with SL at 122.70 and TP at 121.10




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