1minute with ForexSurvivor
Latest impact: EURJPY To Buoy @ Cheapo Price
EURJPY is trading in the air, i.e. being traded this year at highs not seen for the last 24 months. Such trading becomes highly risky as it contains injured rollercoaster waves, even Elliott studies, the “multiple choice with dizzy “if demands”” can’t do the calculations.
Ailing aside the theories, I like to take a different risk by selling 12550 for 12250 where the latter is consider a strong support (only a daily close below it breaks the “strong” notation) and market is expected to buoy. My risk scenario is set once a close above 12700 is triggered – which I believe it will take my stop as yen weakness has no end in sight just yet. However, because the stock markets are taking a different approach next week, just after G20, I challenge towards a very reasonable risk.
Take it or leave it, folks!
Have an enjoyable weekend.