Morning Insights 22nd February

Simon Alagbe

Analyst

Instrument: EURJPY

The pair has come under intense pressure in the wake of development from the Russia-Ukraine crisis. The tension was aggravated after Putin signed a decree recognizing Donetsk and Luhansk in Eastern Ukraine as independent states. Risk appetite remains weak as western countries prepares sanctions for Russia in the face of the uncertainty lending support to the safe haven Yen. 


Technical

The pair traded to the support zone around the 129.368 price levels where a retracement to the upside is expected with a take profit at 130.710 and stop loss at 129.053


Fundamentals

German ifo Business Climate (EUR) 10:00 am

Use your preferred trading platform

Register Now


Payment Options

What Clients Say?