Short EURJPY & USDJPY – hedge

17.12 gmt

I have come to the conclusion that the yen pairs may fall some more due to the G7 meeting this weekend, but in the medium term, i.e. about  2 weeks, the yen will surely weaken again. Therefore, I have hedged my open Yen positions as follows:

Short $407/pip USDJPY at 93.19.

Short $330/pip EURJPY at 125.34.

If the following key levels are broken, I may add to the shorts.

USDJPY: 92.80, EURJPY 124.50.

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