Earlier today in Tokyo, Japan’s Minister of Economy Minister Akira Amari said that the overly strong Yen is in the process of being corrected, and that he hopes the exchange rate settles at a level suited to the nation’s economic fundamentals. German producer price index and Consumer Price index in the U.K are the major data reports due today.
Trade Idea
EUR/USD
A 4H clear break below 1.2820 level could lead price to 1.2775. Alternatively, a 4h break and close above 1.2870 targets 1.2950.
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