EURJPY - 2 Overlapping Trades - A Fundamental & Technical Look

23 בנוב׳

Let's take both a fundamental & technical look at the EURJPY.

On the fundamental side, after a week full of data, the markets are now expecting a larger than normal interest rate cut on December 12th, while on the other side, the Bank of Japan is expected to give us another (rare) rate hike.

On the technical side, we have 2 potential setups occurring in the same location. One in form of a 2618 (which is a retest of a double bottom), and the other being a potential bullish Cypher pattern.

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Akil