If EURJPY can continue to respect this tentative trendline (2 touches so not really a trendline we will see) then i dont see any support for 500+ pips.
I have chosent to short this pair earlier than USD as ECB continues to be increasingly dovish and net longs on EUR are near all time highs, these positions need to be unwound at some point which will lead to some big movements.
I have chosent to short this pair earlier than USD as ECB continues to be increasingly dovish and net longs on EUR are near all time highs, these positions need to be unwound at some point which will lead to some big movements.
Comment:
still in the trade, we have bounced off my support line, lets see over the next few days/weeks if we can break down.