Looking to buy up EURJPY at 119.52 on Weekly S2. Looking for an initial move to 120.25. There is some overhead resistance coming off the previous Cypher short on the daily chart, but i do think we should get small pop inside the green buy zone.
Comment:
Long EURJPY as well as AUDJPY. These are 2 correlated pairs being bothe short JPY. With the current confusion in the US over the Obamacare repeal and the real chance of it not passing, being short the 'safe haven' JPY is not an ideal position, especially on both AUD and EUR. Especially AUD because this currency normally gets hit hard in a risk off environment.
For this reason i am going to be moving stops up on EURJPY to 119.10 in order to eliminate potential JPY strength.
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For this reason i am going to be moving stops up on EURJPY to 119.10 in order to eliminate potential JPY strength.