JPY crosses

EUR/JPY: Consolidating above major technical resistance

The 38.2% retracement of the massive fall from 170 to 94 comes in just above 123.00 as also does a weekly high from 9 months ago. This level has now been breached and the market is consolidating above it. I think I may have to be very careful in trying to pick a top here, it certainly looks at the moment as if the trend is about to accelerate?

  1. The no brainer trade is buy dips on EUR/JPY, since one/two months, and I didn’t jump in for this period. I am pretty poor trader…

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