FXWW News/JPY crosses/Trade Ideas

EUR/JPY: Could be a good risk-reward prospect for dip-buyers

Presently we are seeing some severe risk-aversion amongst the major FX pairs whilst the EMs are getting smashed but once the panic dies down, the market is likely to ask itself whether it really wants to be long JPY or not? I’m guessing that the answer will be No, and with trendline support near 128.75 I think EUR/JPY is worth watching for signs of bottoming. Patience required on this one but definitely worth following closely.

  1. Agree. I’m out of my long JPY basket from earlier this week, took a couple of % but could had ridden it harder — sigh another lesson in learning to ride winners. I’m definately open to short JPY as we are at some major tech areas but that’s not enough for me, Ima wait some more and see how the winds blow

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