Continued Euro weakness and uncertainly may strengthen the Yen. Technical trendline break is a possibility if the pair close below for the week. Considering cloud analysis, its still very much bearish but it is at a level of support which may stall the move down. Will have to wait for price action to indicate otherwise to proceed with long sell of the pair.
If trade is taken, there is a 300 pip risk for a profit of 600 for next support level.
If trade is taken, there is a 300 pip risk for a profit of 600 for next support level.
Comment:
I meant long-term sell, excuse me.