FXWW News/JPY crosses/Trade Ideas

EUR/JPY: Play 141/143 with bearish bias

  • Possible topping formation in development here with parameters at 141/143 roughly;
  • I prefer to play the edges of this range over the next few sessions with a definite bearish bias;
  • If USD/JPY can take out support at 103.70 then the outlook will look even more bearish for the cross;
  • But, stay watchful until the CB risk events have passed.
  1. Hi Sean, the 38.2, 50 and 61.8 retracements of the big move from 131 to 145.5 comes at around 140, 138.25 and 136.5. So, can we target 137? Hope CHFJPY will move always in the same direction.

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