Long USDJPY @ 102.13

10.41 gmt

Long $5/pip USDJPY at 102.13, SL 101.50.

We might be in the ‘sweet spot’ for a large EURJPY move here. EU is bullish and UJ is bullish -> EJ is turbo bullish! All 3 pairs have generated long signals in my system.

However the NFP later today has the potential to turn EURUSD down which would mean EURJPY loses one of its bullish support and may even turn down. This is a significant risk as both EURUSD (at 1.37) and EURJPY (at 139 – 140) are at very strong resistance levels. If those resistance levels are not broken this week, I expect a strong correction down in both pairs.

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