EUR/JPY heading for sell stops….?

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There’s talk of some sell stops building down through 106.00, but also that the 105.95 expiries today  may be of some size and offer some support ahead of the NY cut.

A break down though targets some light tech support around 105.70/75 ahead of the Nov 28 lows of 105.28, and the 38.2% retracement of the 13Nov/5Dec rally at 105.03.  Resistance wise there’s  offers up at 106.50/60  just ahead of the Tenkan line at 106.62

EUR/JPY’s currently sitting just off recent lows of 105.98


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Pete Jackson


  1. @Pete: Told ya about the oversold yen and its comeback today.

  2. Pete, interesting comments there. You find using The Ichimoku Kinko Hyo Chart,
    useful? Would you recommend it? On all pairs or just certain pairs?

  3. It’s certainly watched closely on the yen pairings and the ozz scjohn

  4. Hi Pete I made a decent profit (35 pips) on eur/jpy since this morning. Do you think we would be tripping the 105.95 either tomorrow or wednesday if we don’t today?

  5. I am now going long for the cad/jpy since its already down 40pips since open and before the US stock market opens. Looking forward to a decent number in the canadian house starts at 13:15GMT and the nexen deal which should overturn the pair hopefully. Any advice on this pair from the great Pete? :)

  6. Think its a bit of a eur/usd call pdowusu, there are some good bids in the 82.00/20 zone in the USD/JPY, but a run off in the eur/usd could see a breach otherwise may see it gravitate a bit around the NY cut. There’s nothing to excite on the data front in the US today so could be a quiet slow afternoon as well.
    I really don’t have a view on the CAD/JPy but might be one to runn by Adam when he pops in in an hour’s time. He’s our resident ‘Mountie’ :)

  7. in ’11, 83.4-83.5 was a pretty important zone in cad/jpy, so guess it’ll slosh around that number for a while

  8. I am expecting a run off in EUR/JPY into Japanese elections. A bear trap would be the ideal set up….;=)


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