EURJPY short idea

2023年2月1日

While I think that the Yen has topped, there is always the possibility of another massive leg up but at a much later time. So what I'm going to do is to long it on one of the weakest pair around, with the EUR getting weaker on many fronts after the recent big move. Seeing many wicks to liquidate early shorters and shake out the tree before the eventual move lower.

The red line is the stop loss, and I'm pretty sure that we could see some wicks there just in case, so consider placing a limit there if you think it is too early. The 2x Green lines are the TPs.