Currency market: EUR/USD vs USD/JPY and GBP/JPY
|Over many weeks, the main currencies on the move and best profits were USD/JPY, GBP/JPY and EUR/JPY. Severely underperforming currencies were EUR/USD and AUD/USD as middle currency. NZD/USD is built for perfection everyday of its trading life and never changes.
Here's a dead and dying EUR/USD and no changes over many months. EUR/USD lacks ability to move. Yet it trades normally according to its numbers.
Most vital 1.0507 and 1.0509 answers what is the relationship between EUR/USD and USD/EUR. The relationship is tight, married and super glued together. Explains EUR/USD trading in ranges, without a breakout and despite oversold. no trend ability. The lethargic EUR/USD here.
Topside EUR/USD for today: 1.0542, 1.0549, 1.0555, 1.0562, 1.0575, 1.0582, 1.0589. We've not seen a dead EUR/USD to this degree in many years.
USD/JPY
Topside USD/JPY today: 134.90, 134.99, 135.07, 135.16, 135.33, 135.41, 135.50. USD/JPY's position is far better than EUR/USD and a better condition to profit from many more pips.
Bottom USD/JPY 134.14, 134.31, 134.44, 134.48. To the next degree which is completely unnecessary for further numbers: 134.56, 134.65, 134.73, 134.77. USD/JPY traded to lows today at 134.34 and traded 45 pips to 134.79. Once 134.79 traded, USD/JPY became untouchable for an entry.
GBP/JPY
GBP/JPY is currently designed to move far and wide to profit from many pips.
Bottoms: 164.54 achieves by 164.64, 164.74, 164.84 , 164.95, 165.16, 165.26, GBP/JPY traded to lows today at 164.81 and not only a horrible position but no good entry existed.
GBP/JPY upside today 165.47, 165.57, 165.67, 165.78, 165.99, 166.09, 166.20. From 164.81 lows, GBP/JPY traded to 165.63 and another terrible number and location to coincide to no good entry.
Trade profit 2 1/2 hours into the day trade resulted in 82 pips and 5 hours remain. The better and easier trade was the 24 hour trade and 100 ish pips profit banked.
Fibinacci numbers lack representation to 7 hour trades which means from 2:30 am est to 10:00 am, Fibonacci numbers won't assist to trade entries or targets.
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