Forex Trading: EUR/JPY Shorts Still in Play

RELATED QUOTES

SymbolPriceChange
EURJPY=X112.5890-0.275

The EURJPY stop on the short was moved to breakeven (10641) last night (released via Twitter @JamieSaettele). I wrote here yesterday that “a look at the weekly reveals resistance from 2010 and early 2011 lows. Intraday analytics are suggestive of a top (JS Spike on Sunday night on 240 minute chart for example and the high remains the first session of the week…on Sunday night). A soft target is 10465 although I’ll trail the stop as market activity warrants.” 10500, 10506 in particular, is a level that may produce a reaction. I’ll stay short until further notice. USDJPY action will be the primary consideration in exiting this trade.

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Market Data

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    1.3589-0.0013-0.10%
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    EURSGD=X
    1.7648+0.002+0.11%
    GBPSGD=X
    73.7590+0.035+0.05%
    SGDJPY=X
    5.7039+0.0046+0.08%
    SGDHKD=X
    3.0338-0.0004-0.01%
    SGDMYR=X
    9,531.2920-47.5303-0.50%
    SGDIDR=X
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    SGDCNY=X
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