In our last article, we looked at the potential for a new higher-low in EUR/JPY after the European Central Bank extended QE. After this announcement, the Euro was offered-hard across-the-board, but as we noted, the ‘bigger picture’ trend in EUR/JPY has been quite bullish, and traders would likely want to use that short-term weakness to position-in to longer-term bullish strategies. The level that we pointed out around 120.85 had helped ...
The weekly price is on bearish breakdown: price is testing 109.20 level to below for the bearish trend to be continuing, otherwise - ranging bearish condition.
Nothing really happened; no new policies were unleashed and no new announcements were made, but that was somewhat of the issue. Markets were looking for some kind of extension or increase to Japanese QE and after the incredibly salient report had made the rounds a week earlier, it looked like something new would be announced. But when no additional information was unveiled by the Bank of Japan at that April rate meeting, that bullish structure ...
Recent Comments