EUR crosses/JPY crosses

EUR/JPY: Still plenty of demand, buying dips favoured

The overnight highs at 114.30 should attract some profit takers during Asian trade but with EUR demand seemingly increasing across the board in thin markets, buying big dips also makes plenty of sense.

The obvious support level to watch is the previous spike high at 112.50 with last night’s dip to 113.40 providing support ahead of there (but likely now to have trailing stops below).

  1. That might be a good idea. There is an old-wives tale in the FX market that you wait until the second week in Jan and then trade against the holiday trend as it will then start to change

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