Gap Up Stop Run

FX:EURJPY   Euro / Japanese Yen
Anyone short just got their stops run, if they were placed at the most recent swing high (top yellow arrow). We are now 100 pips from the 127.70 level we covered last week. Still looking for the market to get down there to flush out weak longs and clear stops from most recent swing low (bottom yellow arrow).

Once down there, most likely consolidation will take place, unless they want to rip out stops and tear higher. If not, expect more slow churning upward grinding to take place.

Still bullish overall, but short now because we know how the Big Boys play. Enjoy Today!

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