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Eur/Jpy

Discussion in 'Beginners Bootcamp' started by ali syed arsalan, Jun 1, 2010.

  1. ali syed arsalan

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    Guys please give update on this currency because i have lost $2500 till now and more are on risk.
     
  2. jcris522

    jcris522 Duellatorus Representative

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    Ranging

    Right now the eur/jpy is ranging between about 113.14 and 109.04. It just tested a previous high and will likely fall back down as range traders probably sold off at that level, plus there is nothing to indicate a break above that level. With the uncertainty in the euro zone and the recent news from Japan that the Prime Minister resigned, the pair will probably keep in this range for some time. Are you in a sell or buy position and at what price?
     
  3. Cyclon

    Cyclon Company Representative

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    Ranging AND volatile zone/pattern

    :unhappy:
    Sorry to hear of your losses, ali. I agree that EJ is ranging AND in a volatile zone/pattern. The range is very low angle upward short term.

    I expect a slight drop in the very near term but then returning to above the 5/28 high. I do not see a wide stroke but lots of quick turns.

    It stopped at the 83 SMA ( H4 ) on 5/28 and one of its compadres, the 110 sma has shown it will dip below that. This makes it easy to cruise above it and it will likely turn flat by that time.

    These are my opinions only. If you feel threatened by more losses then you may be better to reduce the risk/exposure to one half.

    This pattern, while volatile does favor second chances depending on whether you can weather the current thunderstorm.

    Hope that helps. Much better luck next time - hang in if it is wise.

    Cheers,
    Cyclon

    PS. this is not a medium to long term pattern so you may want to re-assess an extreme for an entry rather than hold-n-hope if you are stuck someplace in the middle. 8- )
     
    #3 Cyclon, Jun 2, 2010
    Last edited: Jun 2, 2010
  4. Eric Alyea

    Eric Alyea Master Sergeant

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    Chart post

    Practicing posting chart's

    EURJPY Jun 3.

    Good to see you around Cylon
     

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