Continue Pyramiding Into Short JPY Trades

FX:EURJPY   Euro / Japanese Yen
35 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.
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