Long USDJPY; short EURUSD

9.30 gmt

As can be expected, markets are very cautious and range-bound. The general sentiment seems to be risk-off – both the USD and the Yen are stronger today.

EURUSD generated a sell signal yesterday, and today’s repeat failure at 1.33 provides another good short entry. I am short as follows:

Short EURUSD @ 1.3279, SL 1.3315.

The Yen is at a strong Fibo support, and as per my tweaked system rule with greater emphasis on Fibos it is a good place to expect a big bounce. I am therefore long as follows:

Long USDJPY @ 97.68, SL 97.23.

I’m going to stay out of the EJ due to the opposite pulls from the EUR and JPY in that pair. The GBP and AUD should be shorted, but they have already moved a lot, so it may be better to wait until the dust settles.

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