I really enjoy your analysis for the EURJPY yesterday's morning.
I'd like to ask you two questions.
i/ The volatility breakout formation that happened in the EURJPY pair has happened and to all other pairs of JPY (AUDJPY,USDJPY,GBPJPY) at approxemetly the same way.
I'd like to ask you if we can treat them the same way like EURJPY and trade them with a long entry on the confluence support area?
ii/ Will this move of EURJPY affect the downward continuesion of EURUSD?
I'm short from 1,3110 and I wonder if EURJPY retrace and continue the upward move will this affect the downward move of EURUSD? Which target do you suggest for the EURUSD taking into consideration and the move of EURJPY?
Sorry for the length of my post. I'd appreciate an answer.
Have a nice day.
Although many currency pairs have some common part - they are different. Thus, we trade VOB on EUR/JPY. Although other currencies could show similar price action in relation to JPY, but it doesn't mean that they have VOB too.
So, as we've got pattern on EUR/JPY we should trade it on EUR/JPY.
Concerning potential targets - as we've discussed in weekly thread EUR should reach 1.3250 area. That could coincide with VOB move continuation on EUR/JPY. And retracement could happen simultaneously as well, but of different scale of cause.