vlad.adrian
Long

EURJPY - Likely to play catch-up with USDJPY

FX:EURJPY   Euro Fx/Japanese Yen
203 2 9
I am very bullish on the Euro             and the stock markets. Besides the obvious trades of buying EURUSD             (which I have) and buying stock indices (which I have) another trade would be going long EURJPY             . I am looking for a correction in the dollar, but not versus the Yen. I think we are going to see a further consolidation on USDJPY             as the rising stock markets will keep the yen from gaining. Looking at the weekly chart on the right, you can see a correlation that got out of sync. My money is on the Euro             to strengthen up.

On the daily chart of EURJPY             , a beautiful bullish divergence emerged and the impulse turned green. I am already long and looking to add.
HexVex
2 years ago
This doesn't have anything to do with the trade above as such but... The big story I can think of supporting European indices was a weak EUR making exports cheaper. ECB isn't buying corporate bonds yet. If we see greater EUR strength what's left to support European stocks? Am I missing something?
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HexVex
2 years ago
Forgot to explain... I'm long indices and a stronger Euro above 1.11 makes me worried
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