EUR crosses/JPY crosses/Trade Ideas

EUR/JPY: Buy dips for test of 131.10

I favour buying intraday dips back towards 129.60/70 with a reasonably tight stop looking for a test of recent highs at 131.10. EUR sentiment seems to be in recovery mode and the market seems intent on seeing if USD/JPY resistance can be broken.

  1. Definitely depends whether it is a swing trade or if I’m position building. If swing trade I usually have 40/50 pip stop for whole amt n then book 1/2 profit after 60/70 pips n play with balance. L/t positions are different

  2. That sounds like swing trader strategy. What I would do is leave initial stop at 60 pips and also book 1 lot of profit at 60 pips as well. I wud suggest 60 pips as max loss and once trade develops then adjust as big lvlvs become obvious

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