Since the end of February low under 140, EurJpy rose strongly, more than 2000 pips and almost touching 160 important figure. In August, the pair consolidated, and this consolidation could very well be distribution. Now the pair is trading under 157 zone support and a daily close under this support could lead to further losses. As long as the 158.70 high is intact I'm looking to sell rallies with a target at 154 support. In the medium term, however, the pair could drop even to important 151.50 support.
@Mihai_Iacob, Me too. I think we are still on profitable journeys... I have also started selling AUDJPY
AlloysK
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@Mihai_Iacob, EURJPY is obedient. CADJPY is not respecting the laws of physics, hahaha, I think it heading to 110. I am creating room for CADJPY by selling CADCHF and USDCHF at the moment.