Free Forex Signals and Forecast: Buy EUR/JPY – 1 Apr 2022
Forex Trading Signals

Free Forex Signals and Forecast: Buy EUR/JPY – 1 Apr 2022

Our free forex signals service trade today is a buy order on the EUR/JPY. The cross will go upside if it finds rejection around the support level.

The EUR/JPY pair drops at the time of writing. However, this could only be a temporary decline before resuming its upwards movement. Technically, the bias remains bullish despite a temporary retreat. After its amazing rally, a temporary decline was somehow expected. Now, the pair is trading at the 135.42 level, and it seems determined to resume its growth.

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In the short term, the Japanese Yen tried to appreciate as the Japanese economic data came in better than expected today. The Final Manufacturing PMI was reported at 54.1 points above 53.2, expected to signal further expansion. Tankan Non-Manufacturing Index was reported at 9 points versus 5 points estimates, while the Tankan Manufacturing Index came in at 14 points versus 12 points forecasted.

Euro-zone CPI Flash soars to 7.5%

Unfortunately for the Euro, the Eurozone reported poor economic data. The Core CPI Flash Estimate, Final Manufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, and Spanish Manufacturing PMI came worse than expected.

Only the CPI Flash Estimate reported positive data. The indicator registered a 7.5% growth versus 6.7% expected.

From the technical point of view, the EUR/JPY pair dropped within a down channel. However, as long as it stays above 134.51 – 134.87, the pair could develop a new leg higher.

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Free forex signals – Buy EUR/JPY at 135.91

eur/jpy free forex signals

Free forex signals entry price and take-profit

Instrument: EUR/JPY

Order Type: BUY STOP

Entry price: 135.91

Stop Loss: 134.04

TP1: 138.81

My Risk: 1%

Risk / Reward Ratio: 1:1.55

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Olimpiu Tuns

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.