EURJPY Live Trade

Hello Folks

The other trade for today is EURJPY, I have similar reasons for taking this trade as its a yen pair also. Short covering has been the name of the game in euro for the last week or so. I was pretty satisfied thats all it was when it failed to break 128, todays impending release of COT data should see an increase in the amount of sellers in euro, as I believe the big names would be selling into the buying of late.

Some of the reasons I have for this trade are as follows:

• Extensive short covering seems to be over for now
• Clear price rejection of resistance at 128.00
• Bond yeilds cooling somewhat pushing money back into Safe haven plays like the yen

Entry - 126.40

Stop Loss 1 -127.02

Stop Loss 2 - 127.35

Take Profit 1 - 125.80

Take Profit 2 -124.30

Take Profit 3 - 123.05

Runner - To be Determined

Update 1 - Admin Fee achieved

Update 2 - Take Profit 1 achieved


Update 3 - Take profit 2 - Achieved 


Update 4 - Trade closed at 124.00