JPY crosses

Market still not tired of selling JPY

Once again the Asian market surprises and brings us some very welcome volatility. I must admit I did not see this coming and I was obviously not alone, judging by the speed of the rally in EUR/JPY. We may get occasional sharp and violent dips in this pair but there is no doubt that the trend is up and its gaining in strength. It may be simply  a matter of jumping on and hanging on!

Next resistance in the cross is a daily high at 107.95.

  1. well here is the news that spiked it

    Softbank Corp. is buying USD/JPY as part of its plans to buy US carrier Sprint (a Y1.5T deal).

    This has triggered stops above 82.30.

  2. so once this corporate buying is over. back to normal. japs are not active today and heard loads of shit from them in past 2 weeks. cmon abe win the elections first

  3. I got caught out with this whilst having lunch. Hopefully it will come down to 107 so I can get out. Looking at the order books, some SL got triggered above 107.10. There are some SL just below 107.

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