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Lambert: Buying EURJPY as Yen crosses hold up
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After noticing that yen crosses "are holding up", London based trader Clive Lambert, from FuturesTechs, is planning to buy a break higher in euro yen.
He intends to buy on a break through 142.00-10, targeting 143.40 then 144.30.
Clive explain euro yen is travelling higher in a channel but is currently being weighed by a Marabuzo resistance at 142.05. He believes that if this can be cleared, there is scope for further upside.
Clive's decision follows a "busy few days" on the markets, due to the political situation in Ukraine and also thes week's FOMC meeting.
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