Just reading through the retail positioning information from retail brokers like Oanda and Axi Trader and it seems that the retail market is quite evenly positioned in this pair whereas the professional market is reporting extremely long positions amongst Hedge funds and CTAs.
It looks like the retail market has quite a few stops positioned above 112.00 (me included 🙁 ) and they may well get targeted?
I’m heading out to dinner so if you could just do me a favour and whack EUR/JPY about 300 pips lower, then my dessert will taste a lot better 🙂 I’ll log back in a bit later if anything happens. Catch you later++