EUR/JPY: 200 pips lower since yesterday’s false break
This happens a lot in the FX market; all eyes are on one level and the market anticipates a break. Then it happens, hangs around for a few hours, and then reverses sharply catching many off-guard.
That’s exactly what has happened in EUR/JPY over the last 12 hours. Our hedge fund insider @FXWW888 did warn of stops below 100.75/80 in USD/JPY and we’ve seen them triggered in last hour of trade.