informedtrades
Long

Continue Pyramiding Into Short JPY Trades

FX:EURJPY   Euro Fx/Japanese Yen
34 1 0
Short JPY is probably my favorite long-term trade in the forex market. I agree with John Mauldin, Kyle Bass, and other prominent yen bears who think USDJPY             is going to at least 150, and probably more like 350. I have some JPY positions on already, and think now is a good time to add a small bit more.

Accordingly, I'm going long EURJPY             at 140.47 with my stop at 139.42 -- so risking 105 pips. My target profit is resistance at 153.36 -- a target profit of nearly 1300 pips -- based on resistance going back to 2009.
Totally respect your view and the views of Bass etc. However, you need deep pockets to follow those guys into a trade. A lower entry to go long would be my preference and personally I see this coming down a lot lower from here.
snapshot
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out