Sell Trade EUR/JPY – German’s Composite PMI Slips to Near Four-year Low!
The EUR/JPY has violated a strong support level of 128.750. We are opening a sell position below this level to quick target 128.38...
Arslan Butt•Friday, November 23, 2018•1 min read

The financial markets are trading sideways due to thin trading volume. Japanese banks remained closed in the observance of Thanksgiving holiday, which is why we haven’t placed any trade yet. Let’s take a look at EUR/JPY as there is likely to be a quick opportunity in a while.
EUR/JPY – Eurozone Economic Event Disappoints
German’s Composite PMI slips to near four-year low in November causing a sudden drop in the Euro.
- French Flash Manufacturing PMI – Fell to 50.7 vs. 51.3
- German Flash Manufacturing PMI – Slipped to 51.6 vs. 52.2
- German Flash Services PMI – Plunged to 53.3 vs. 54.7
At the time of writing, the EUR/JPY has violated a strong support level of 128.750. We are opening a sell position below this level to quick target 128.38.
Good luck!
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ABOUT THE AUTHOR
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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