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Why I'm buying EURJPY: Lambert

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March 11, 2016 clive lambert, currencies, currency, ecb, eur, eurjpy, euro, european central bank, eurozone, forex, fx, jpy, march 10, mario draghi, monetary policy, qe, rate cuts, saxo, saxo bank, saxo bank tradingfloor.com, saxo tv, saxo tv tradingfloor.com, saxobank, saxobank.com, saxotrader, saxotradergo, saxotv, stimulus, trade, trade view, trader, traders tale, trading, tradingfloor, tradingfloor.com, tradingfloorcom, yen
The euro saw a strong rally against other major currencies after the ECB boosted its QE programme and cut rates, but also suggested there would not be further cuts. With EURJPY breaking key resistance levels, Clive Lambert is now looking to buy.

According to Lambert, the pair broke resistance at 125.62 and 125.95. Both levels will today act as support and he is looking to buy on a dip to 126.10. His stop on the trade is 125.60 and his targets are 127.15 and 128.30. Lambert’s timeframe on the trade is one day to one week.