EUR crosses/EUR/USD/Flows and Orders

EUR/JPY: Probably a bit early to start calling a ‘top’ but looking soft..

The bull trend is obviously very strong but the market is reportedly very long already so its a difficult call, whether to be in dip-buying mode alongside the trend or whether to sell into exhaustive rallies. I’m definitely in the latter camp but I would like to see the opening gap closed and that level broken cleanly before I can confidently start calling a top.

I’ve sold a bit more EUR/JPY earlier this morning and I’m reducing my EUR/USD longs, after the break above 1.3170 failed to sustain itself.

  1. Hi, Sean

    I already choose another trade, short EUR/USD . start small positions first, and allow it run for a few session before call it off or hold on.

  2. I’ve been long for the last few weeks Mike but I sold about 60% of my position earlier as I don’t like how EUR/JPY is trading. We could see 13250ish first? I’m not sure it goes hard lower but I think the recent uptrend might struggle a bit from here on

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