SwissTrader
Short

EURJPY - A way to protect against Greek turmoil

FX:EURJPY   Euro Fx/Japanese Yen
43 0 0
Japan outlook is improving and the Yen provides protection in case of market turmoil. The risk is that a deal is signed or or a "Yes" vote at the greferundum. However even in the case of positive news this weekend in Greece, the euro             strength should be short lived due to its inverse relationship with the European equity markets. Reason why I keep the stop far away.

I would enter short at the 50% Fibonacci level at 137.90.
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