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Lambert: Two month low for EURJPY
With the euro hitting a two month low against the yen, Clive Lambert from FuturesTechs expects the euro to continue to move lower against the yen.
Comments from Mario Draghi last Thursday increased speculation about ECB QE which caused the euro to fall against a basket of currencies. The EURJPY currency pair broke below an important technical and psychological level at JPY 140.00 on Tuesday.
Ahead of possible ECB actions next month, Clive is looking to sell around JPY 139.80 and JPY 139.90. His targets for the trade are JPY 138.80 and JPY 137.90. A stop can be placed at 140.30.
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