fxstudent299

EURJPY idea - after Lower House Elections in Japan

Short
FX:EURJPY   Euro / Japanese Yen
As Abe coalition secures big Japan election win and many traders got long before weekend in expectation of even more "Abenomics" (lower Yen), what happens if the first hours after election does not show "normal" result in JPYpairs??? Will they sell the late shorts into the market back?
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my trade-setup:
go EURJPY short below first 1h candle's low (147.31)

I prefer EURJPY short over USDJPY short as bearish flag on EURJPY gives a technical setup to a fundamental idea
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EURJPY short @147.25, SL@148.30 (-105), TP@145.60( +165),
R:R 1,57 (not that great, but I like the idea of the trade together with the weak stock markt)
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.