Anyone trading this pair?

So, is anyone trading this? I’ve been using the macfibo strategy and got sopped out on this one yesterday for a small loss. This pair has continued to break upward resistance over and over again.

With the Euro strength and Yen weak (and apparently the BOJ wants it to weaken more), does anyone see this breaking the up trend?

I’m long EURJPY. And it’s working our pretty good thus far.

how are you trading it? what’s your method? Do you mind sharing what your TP point is on this and why?

seriously? no other input? maybe I should become the expert, lol

Melch, you an expert yet :slight_smile: in Eur/jpy It is killing me. Any advice? I’ve been on the wrong side since yesterday, tired of avg down. I’m at 127.7 short :frowning: it keeps climbing

Sorry, I’ve been away from the forum for a while. I recently started using my demo acct again after losing most of my real acct (not much relatively speaking - about $75).

I realized I wasn’t trading in my strength. I’m now doing daily charts with my own s/r lines and trend lines. I’m doing pretty good thus far in my demo acct. I started it in August and am up almost $2000. I started with micro lots (1000) and have lately been doing 10 micro lots (10000). I’ve been doing around 8-10 pairs including the EUR/JPY.

Right now I’m waiting for the EUR/JPY to go down and hit a support line/lower end of a trend line before I get into it, at which point I’ll like be long on it.

Here’s what I’m looking at on the daily chart:


I’m mostly bearish on the yen because of the proposed sales tax and the potential stimulus, both from the BOJ and government, that could offset the negative effect on growth. Euro seems to be holding up pretty well, on the other hand, as traders think that there are signs of improvement in the euro zone already, so I think EUR/JPY could keep treading higher.

I am not really interested in long on eurjpy unless it drops back to the 116 range. Missed the boat on this one when I was short on capital being tied up in other trades. I don’t see any sign of reversal right now. Possible rejection at the 139.20, 139.50, or 140.00 figure. This would be an least 600 pips North. Major move has already been 4000+. I will not look for shorts unless eurjpy rejects at 139.20, 139.50, or 140.00. However, this is in line with my trading plan and is likely irreverent to most of you guys here.

Just something to think about… Cheers.