EUR/JPY: Friday night’s price action suggests bull trend back on track
Anyone who traded through the NFP data on Friday probably has the same sense that I have, namely that the bull trend is very close to re-asserting itself. Firstly USD/JPY gapped higher and then EUR/USD rebounded after a nasty spike lower. All of this left EUR/JPY 200 pips higher on the day and this is one market which seems to be screaming its bias to us in a very loud voice. Entry levels remain very important, especially for the short-term trader, but I for one will be buying dips for the next few days.