JPY crosses/Others

EUR/JPY: Still like 117/120 consolidation range

There is some debate going on as to exactly what was said by the EconMin but the reaction tells us a lot about the state of the market; its short Yen and getting nervous. I tend to think that 120 will now cap EUR/JPY for a few days and that we will see a dip towards 117.50 and possibly even 116.00.

That’s why I like the short CHF/JPY trade so much; if EUR/CHF takes off towards 1.30 then the CHF/JPY cross could be back below 90.00 very quickly indeed. Wishful thinking on my part perhaps, but you gotta have a plan!

  1. Very nice plan, Sean. EUR/CHF gains might be slow till there are several barriers up there. Nevertherless, the region under 100 seems to supply good resistence.

  2. Well you know what happens to well laid plans Ivory? They often don’t turn out so well but that’s what makes this biz so interesting. I think we will see 135 in EUR/CHF in next 3 months, but I’ve been wrong before on the odd occasion 🙁 . If EUR/JPY dips to 116/117 then I’ll take profit on the CHF/JPY and concentrate on the EUR/CHF, or something like that

  3. That’s so ordinary.
    I guess your CHF/JPY could sink even lower.
    While 35 seems to be a bold claim. That means EUR and CHF supposed to go different way against the greanback.

  4. I beleive 37 is quite possible but I plan to close most longs somewhere between 35 and 3650. Actually the question of cliff and debt may keep EUR strong till the elections in Germany so we may see very tight trade here during all of the first half of the year.
    There is another possibility to see even higher figures, but it would cost EZ new strong crisis.

Leave a Reply

Your email address will not be published. Required fields are marked *