AUTOREFRESH 
Profit taking flows in EUR/JPY
By Sean Lee || May 5, 2010 at 22:09 GMT
|| 14 comments || Add comment
Dealers are reporting some profit taking in EUR/JPY over the last 30 minutes as funds take some profit off the table ahead of the Tokyo open. Japanese financial markets have been closed for 3 days and one is never quite sure how the Tokyo market is ever going to react. Just in case they too are in profit-taking mood, it seems wise to book some P.
EurYen will hit 118.00 — it is written — no 2 ways about it
Nice call on your usd/jpy 50%
50% what news have your heard about the EurYen?
GM Sean !
I just have a weird question about cable , just right after you post this – my MT4 chart ( with FXCM ) Popped a 100 pips down candle ? I wasn’t at my desk to catch that drop – the LOW was 1.4865
Is my chart broken ? or some crazy sl hunter just shaked off weak long
Thanks Annie – that was a pretty easy call….
Mito – I didn’t hear any news — most of my trades are based on charts and price targets are strictly based on my *feeling*
Annie,
Like we thought USD/JPY was down taking all the JPY crosses with it. Hope you liked the run down!
Chart broken Thanh or else it knows something we don’t!! Low on Reuters over last 2 hours 1.5085
Sean NZD unemployment rate at 6.0 down from 7.3%. Mild movement up. Don’t know how long though!
sean, any news from ur frd who went long gbp?
George they certainly did get spanked. I was just a spectator though…
George or Lilac you doing anything with cable?
I don’t think he went long yet. He was saying that he felt there would be a big rally at some stage around the election but whether that rally starts from 151 or 149, he had no idea. He was right on the money re EURGBP as that has fallen 100 pips since yesterday so the sterling selling just isn’t there to the same extent as in the EUR
if i may suggest … buying a Friday strangle option … 1.50-1.52 is probably the best way to play the UK election …. it should cost around a big figure ..
No cable position yet, Annie, only really just had a good look at the chart since Monday.
I might day trade it tomorrow if eur/jpy has a rest.
In any event, won’t be holding anything overnight, cos I won’t be around.