There is a pronounced uptrend in EUR/JPY, hence I am focusing more on this pair than EUR/USD

Chris Weston

Pepperstone

There is a pronounced uptrend in EUR/JPY, hence I am focusing more on this pair than EUR/USD. Trend support drawn from the November 2013 low comes in at 141.09 and there is good validity as we have seen rejections off the trend in February and twice in April. After the weaker-than-forecast German inflation numbers (released overnight), with German EU harmonised coming in at 1.1% versus the 1.3% expected, there could be downside risks to tonight's (19:00 AEDT) Eurozone 'flash' CPI figure. The market expects a rebound from 0.50% to 0.8%, so anything less than 0.7% (while surprising) will likely hit the EUR.


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Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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