AUG 13, 2021
- EUR/JPY waiting for a direction
- Straddle setup in EUR/JPY (H4)
Chart 1: EUR/JPY H4 chart
With the lack of major price moving fundamental news or data releases from the eurozone, EUR/JPY has been moving across within a 45pips range since the start of this month. Our Bollinger Bands are displaying a sign of Bollinger Squeeze, indicating low trading volatility in EUR/JPY. No strong momentum in either direction can be seen right now as the market is waiting for a catalyst.
Despite the low trading volatility, we are still able to take advantage of this situation to profit from either direction when EUR/JPY starts moving. With the series of economic data releases from the eurozone next week, we are likely going to see more movements coming in for EUR/JPY.
Trade Setup for EUR/JPY (H4)
Buy Stop at 130.100
Sell Stop at 128.900
Upcoming major news that may impact price movement of EUR/JPY
17 August – Eurozone Flash Employment Change q/q data release at 1700 (GMT+8)
17 August – Eurozone Flash GDP q/q data release at 1700 (GMT+8)
18 August – Eurozone Final CPI y/y data release at 1700 (GMT+8)
24 August – French Flash PMI data release at 1515 (GMT+8)
24 August – German Flash PMI data release at 1530 (GMT+8)
24 August – Eurozone Flash PMI data release at 1600 (GMT+8)
25 August – German ifo Business Climate data release at 1600 (GMT+8)
26 August – European Central Bank monetary policy meeting minutes release at 1930 (GMT+8)
27-29 August – Jackson Hole Symposium (GMT+8)
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