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Instrument: EURJPY
Bullish Preference:
A buy position is envisaged if the price trades above 157.629 with take profit at 157.746.
Bearish Preference:
A sell position is envisaged if the price trades below 157.313 with take profit at 157.166.
Fundamentals:
None with High Impact
Comment:
With regards to monetary policy, investors continue to assess last week’s dovish hike by the European Central Bank (ECB) and persist in anticipating the possibility of interest rate reductions by the Federal Reserve (Fed) occurring sometime in the second quarter of 2024.
Analysis: SCRUM Team
