Today, I opened a long position on EURJPY as the inflation in Germany exceeded expectations, reinforcing the idea that the European Central Bank will continue to increase interest rates. Germany's inflation is particularly relevant for the European Union and provides insight into the inflationary situation in Europe.
On the other hand, I remain bearish on the yen as the Bank of Japan shows no signs of changing its monetary policy. However, if tomorrow's inflation in Europe falls below 4.8%, I will manually close the position as it could impact the ECB's decision on interest rates and weaken the euro.
Remember that the financial market is volatile and subject to constant changes. It is always advisable to evaluate the data and adjust strategies accordingly.
On the other hand, I remain bearish on the yen as the Bank of Japan shows no signs of changing its monetary policy. However, if tomorrow's inflation in Europe falls below 4.8%, I will manually close the position as it could impact the ECB's decision on interest rates and weaken the euro.
Remember that the financial market is volatile and subject to constant changes. It is always advisable to evaluate the data and adjust strategies accordingly.