Euro / Japanese YenShort
EURJPY SHORT - Long the strong, short the weak.
Updated
Hi all,
This week I am sharing my play on EURJPY.
With JPYBASKET showing both accumulation and some weakness (another liquidity grab today), with Japan Bank saying - increasing interest rates is an option now, with strong long positions on JPY by commercial banks and short positions advantage on EUR, the EURJPY pair is my safest pair to trade this week.
I am both managing a major short there and scalping the range to the downside.
I am expecting return to 168.1 - 168.2 area at minimum!
Good luck and play safe!
This week I am sharing my play on EURJPY.
With JPYBASKET showing both accumulation and some weakness (another liquidity grab today), with Japan Bank saying - increasing interest rates is an option now, with strong long positions on JPY by commercial banks and short positions advantage on EUR, the EURJPY pair is my safest pair to trade this week.
I am both managing a major short there and scalping the range to the downside.
I am expecting return to 168.1 - 168.2 area at minimum!
Good luck and play safe!
Trade closed: target reached
Today dollar is very strong and a lot of news events (UK, CHF and USD) - I suggest to close the trade at break even - I hope you have been able to scalp the range successfully like myself.I will post another idea when and if better entry conditions are met.
Keep an eye on JPYBASKET in the meantime!
Good luck!
Trade active
I re-entered and opened short at 169.96. Lets see..Needs more confirmations and beware of news at 14:30 CET.
Trade closed: stop reached
See my other idea for updates on YEN.
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