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EUR-JPY -Anyone else see a short setting up? EUR-JPY -Anyone else see a short setting up?
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EURJPY Discuss market action in the Euro versus the Japanese Yen.

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Old 04-23-2008, 11:19 AM
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Default EUR-JPY -Anyone else see a short setting up?
Last 3 days, cannot get past 165, euro is not showing strength today against the dollar which seems stronger. All 3 jpy pairs going up at the moment but not convincingly. Anyone have input on what the fundies are saying?
It looks like a relatively low risk short, as a close above 165 on the hourly is less than 40 pips away, downside target could be much more than that.

Any comments?
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Old 04-23-2008, 11:23 AM
cadarkitek cadarkitek is offline
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I think its setting up to break 165.00 as we speak.
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Old 04-23-2008, 11:34 AM
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Why?
Fundamental reason, or something on the chart that I am not seeing??

More input please
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Old 04-23-2008, 12:33 PM
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Quote:
Originally Posted by 4xStar View Post
Why?
Fundamental reason, or something on the chart that I am not seeing??

More input please
Its moving choppy at the moment, but price bounce of an uptrend line on my 1hr chart move up about 66pips(164.72), looking for it to move another 60pips up to complete an "A,B,C,D".
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Old 04-23-2008, 12:52 PM
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OK, thanks for that .. I am still learning
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Old 04-24-2008, 08:00 AM
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I shorted at 164.84 and exited at 163.96, good enough Would have loved to have held overnight, but .. I don't trust myself enough yet to hold through news... oh well, I think the euro is shortable on any good bounce for awhile.
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Old 04-24-2008, 08:26 AM
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I shorted at 164.84 and exited at 163.96, good enough Would have loved to have held overnight, but .. I don't trust myself enough yet to hold through news... oh well, I think the euro is shortable on any good bounce for awhile.
Congrats. I'm still anticipating a "real" bullish move above 165.00.
I have a short position open +50pips, Its creating a nice little downtrend, hopefully it stays down.
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Old 04-28-2008, 09:27 AM
cadarkitek cadarkitek is offline
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Short Entry @ 163.65(close of IB). Multiple signals, this was a perfect trade. Risk was only 20pips. TP-1 hit. The TL break but it was a "bull trap". See pic below.
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File Type: jpg eurjpy.jpg (57.4 KB, 11 views)
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Old 06-27-2008, 08:15 AM
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4xStar,

Any update on your EUR/JPY short?
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Old 06-27-2008, 08:24 PM
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4xStar,

Any update on your EUR/JPY short?
Yep; two months ago:

"I shorted at 164.84 and exited at 163.96, good enough"
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