Trading Long EURJPY

Trading Long EURJPY

In Forex we took an opportunity trading long EURJPY.

We had some economic data out this week including the German Flash Services PMI and the French Flash Services PMI from the Euro area, this is information from surveyed purchasing managers in the services industry in those countries.

We had some positive economic data from those two countries, looking at data from Japan, export orders contracted for the first time for almost two years, a possible warning sign about overseas demand, this we feel had weakened the JPY for our forex trading opportunity to trade place a buy trade and go long.

We had hoped to stay in position for a longer however looking at the large wick the last candle on the right and some positive Flash Services PMI data from Japan, we decided to take our profits for the fund at £102.00

trading long

(Our trading and image was done using an account with UK based broker IG)

*Please Note, Forex and other forms of trading carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 


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