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EURJPY: Two Options to Capitalize on the Short Side
Two weekends ago on October 7th, I pointed out an area on EURJPY that was likely to break down within the next few sessions. The pair had reached the 131.00 support area, but buyers were having trouble pushing prices higher. Based on the way the risk-sensitive EURJPY was reacting to 131.00, a breakdown seemed imminent. I went short above 131.00 in preparation for the reversal and also mentioned my idea in the member’s area. The very next session on October 8th produced the selloff we were waiting for. By October 9th, the first target was reached at 129.30 and has held as support ever since. However, just like the ... (full story)