JPY crosses/Trade Ideas

EUR/JPY: Looking to trade a volatile 118/122 range

We cannot complain about the lack of opportunities in this pair and I suspect that the next 30 hours or so are likely to bring more volatility. The market is long already, so any sharp rallies will attract profit takers whilst expectations of an Abe-BOJ pact are increasing, which should attract dip buyers back into this pair.

I don’t fancy taking any positional view here, rather wait for the sharp moves and hope for 150/200 pip swings.

  1. i’m ready to cut longs manually tomorrow, not today. it’s always tricky to decide to take profits as Yen getting famous and everyone seems willing to buy dips.

    200 MA for EUR/JPY, USD/JPY, AUD/JPY are getting closer to current price at hourly chart, my stops below there at the moment

    already took profits of EUR/USD long yesterday after being stopped myself out AUD/USD long 1.0550 after Chinese data, bad choice & overly confident with China to put buy stop at 1.0550! 🙁

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