re EJ, have no idea where EJ will go. all i know is that RBS is calling for UJ to hit 120 by mid DEC or earlier. it's that turns out to be true, and Nikkei keeps climbing as well, then EJ possibly might reach the target i showed you on that Monthly chart. BUT if not, and Nikkei crashes, which i am hoping for ;), then we should get a beautiful multi-100 pip pullback, especially on GJ.
best of luck!
my idea of a perfect market, ample pull backs for buying a trend continuation, but EURJPY doesnt want any of that. when she gets into a trend shes freaking going near straight there!
personally, i try to avoid the EJ. never liked the way it moves. usually the moves are shorter than on GJ and often they don't seem to make any sense, well, at least not to me. but even GJ has these weird choppy moments that will destroy your trade if you try to scalp it.
anyways, i keep reading more and more banks are convinced UJ will go straight to 120. if so, the other 2 will also just keep going straight up. i just find it hard to accept there won't be a significant retrace before UJ gets to 120. it's just ridiculous, this 1 way up trade since 105.
but as they say, mr market is always right, no matter what. atvb.