JPY crosses

EUR/JPY takes out yesterday’s post BOJ spike high

EUR/JPY is looking very strong already although the European session is only young. I’m still looking to reinstate my short position on any rally towards major technical resistance at 104.80, although that might be a few steps too far for today. I’d expect to see some 103.20/104.20 consolidation but I’m also happy to sell any sharp spikes intraday.

  1. Sean,

    Why do you prefer the EUR/JPY selling rather than GBP/JPY. If we supposed that EUR/GBP has formed a short-term basing patterns ?

  2. Good point, main reason because it’s purely technical trade with clear entry and stop levels. I might have look at gbpjpy if both sides develop nicely ie eurgbp stays bid and eurjpy tops out

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