EURJPY LONG: Bullish divergence on 4H chart
Bullish divergence.
Some political risk premium is being priced in to EUR,
However fundamentals for EUR remain strong vs JPY.
Furthermore, I believe the recent JPY strength is due to Japanese profit repatriation and fiscal year end flows, rather than true risk aversion.
This is a GREAT trade for the long term. I may hold this until we see 140.
I will scale in if it goes lower.
I think it will play out after February ends.
Some political risk premium is being priced in to EUR,
However fundamentals for EUR remain strong vs JPY.
Furthermore, I believe the recent JPY strength is due to Japanese profit repatriation and fiscal year end flows, rather than true risk aversion.
This is a GREAT trade for the long term. I may hold this until we see 140.
I will scale in if it goes lower.
I think it will play out after February ends.
Comment:
Working well
Comment:
Nice, take 30% profit now
Comment:
Nice, take another 30% off