Weak EUR strong JPY simple. Sell on pull backs.

Hi Traders, this is my plan for this pair, if the all conditions will be met I will enter (or might not). Make sure you follow me all updates will be shared here from opening until the close of the trade. Don´t hesitate to comment with any questions and hit like for the support.

Reason: EURO-ZONE is in the big troubles, Italy 3rd biggest economy in the EU and 9 biggest in the world, are in the deep economical crisis and they requested EU for the support which was declined. This will affect EUR currency a lot. JPY is safe currency and it will strengthen on the RISK ON. COT on the JPY the banks has reduced the long contracts on the USDJPY from over 100K to the 30K which makes the JPY very bullish

Technical: Price is sitting in the middle band of the long term descending channel. We had strong accumulative volume and now the price is about the break lower. EURJPY is sell on pullbacks.

FX Hunter Strategy is based on mainly watching the big picture of overall world economy and dividing the FX pairs in to couple baskets.Following the volume of big players (COT by CFTC) and tick volume helps to see what the market movers are doing. Parallel channels, Supply / Demand and Market Profile are used to determine levels of interest for the trading. Slight usage of Elliot waves for the market structure.

Kommentar:

Placing sell limit order

Trade ist aktiv:

Im in the short now.

Kommentar:

+ 100 pips running