EUR crosses/JPY crosses/Trade Ideas

EUR/JPY session outlook: Where does it go from here, is it….

Got some old 80’s ‘Haircut 100’ number running through my head this morning; that’s a worry!

I sold yesterday afternoon in anticipation of the ranges holding and some ‘buy-the-rumour-sell-the-fact’ action post-FOMC. Now I’m looking at a vertical trend which is potentially targeting levels above 111.00, so I’ll keep my positions small and try and use intraday swings to get out of the red. Volatility is likely to remain high so I think we need to trade the spikes in both directions, but with a bullish bias now.

I think its feasible that we see more topside spikes now towards 110 and even higher but they will provide bulls with excellent profit taking opportunities for a re-load near 108.00.

  1. Ok well its on now Sean, remember that EUR/JPY play to Y111 we talking about and you concerned about Japanese elections. I think its hard to stop this USD/JPY and all Yen crosses uptrend.

  2. That was the first track I ever bought on a 45 single, a classic! I have been playing EUR/JPY very cautiously over the last few days, you need nerves of steel to play this pair.

  3. Buy rumour sell fact just for asian session, european session we might get pull back to Y108 where it could be good to add to longs if you want to be exposed to Japanese elections. I get the feeling that these moves will come quickly 🙂

  4. Very nice Sean. Thanks very much. I suggest that you have a section for trade idea where you post trade ideas from different banks / hedge funds along with their performance. It will be nice to keep a track on them.

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