Tuesday’s action generally sets the direction for the week, and this week is looking like another strong week for the USDJPY. The EURUSD is showing a bounce, but is struggling. I am going long both, but with more weight on USDJPY.
Long 20 lots ($220/pip) USDJPY at 96.66. Extreme SL at 96.05.
Long $100/pip EURUSD @ 1.3032. SL 1.2982.
I’m also monitoring the EURJPY for a good long entry, that pair is wickedly volatile.