Im going short later this afternoon. The eur/usd is currently at the 38 retracement from the May 1st decline. And the eur/jpy is lining up with retracements from both the April 25 and the july 1 highs. Im siding on jpy strength over usd because 1) the feds stance on more easing, and 2) i think the dollar index is about to break down.
Anyway, ill be setting my stop just about august 21 high. Wish me luck
i might set a short entry for usd.jpy below 78.250 as well. We shall see
I am going short immeditly as the up trend is commin to an end. Notice a stochastic divergence signal.
Hey just wanted to come back to this thread and say that i just took my profit. I was debating what i was going to do with Jackson hole tomorrow, but a bird in the hand is better than two in the bush. Thanks for the great advice guys