Trading Recommendation

Technical

EURJPY support holds ground! Buy on dips!

EURJPY has tried and breached the support for a while, but the bulls were able to take charge and bring back prices up the support line in the dialy chart. We believe this is a sign that the buyers are in control of the pair. In line with this, we are taking a BUY position and enter at 133.55 when prices close near the support.

To read the full trading recommendation, please click this link:http://metisetrade.com/index.php/research

Fundamental

UK CPI Printed an Increase of Just 2.2% Making the Likelihood of Rate Hikes Dim

Yesterday, the UK released data that the Consumer Price Index (the leading source of inflation data used by the Bank of England) printed 2.2%. This is below the expectations that prices went up by 2.5%. This creates the speculation that the BOE would more likely not slow down its Quantitative Easing program of buying assets.

To read the full trading recommendation, please click this link:http://metisetrade.com/index.php/research