I'm Bias for this pair my position SELL EURO/JPY @ 121.28 or better TAKE PROFIT 120.24 ( EXTENDABLE)
STOP LOSS 121.94 ( USE TRELLING STOP)
OUTLOOK:
The forecast is for good European data to continue to support the euro, probably to the 50% retracement level of 1.0854 and beyond. Our position in the euro/yen is therefore suspect. For one thing, it runs counter to the yield differentials and to the fundamentals.
The euro “should” be stronger against the yen, not weaker, revealing once again that …
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