The technical patterns on EURJPY have become messed up due to the large swings last Thursday, Friday and then the quick 100 pip trip up and down yesterday. It will take some time to develop ‘normal chart patterns again. Meanwhile, this trade is a small bet on the general trend of EUR bullishness that we’re seeing since last Friday.
Long $10/pip EURJPY at 129.60. SL 128.70.