Disliked{quote} I try not to trade while I'm high. I am long EUR/JPY and ready to add to the position quickly if peeps in Washington start acting like adults. People in here seem very bearish on gold, bullish SPX, which is very bullish EUR/JPY. If the US gummint sorts its shit out this week it is hard to imagine anything other than a major rally in equities. As you can see from the intermarket chart below when gold declines and/or SPX rallies, the sentiment is generally reflected in EUR/JPY. What concerns me now is the volatility on SPX. As you can see...Ignored
Anyway, the gist of my post is centered around my feeling that there is very limited upside to the EUR/JPY at this point... until such time as the global macro outlook is in a better position, a bit more risk sentiment creeps in and Kuroda decides to hit the print button once more. In the end, based on my view, it will be Yen weakness that will rally the EUR/JPY and not so much Euro Strength.
Of course anything is possible, so we'll just have to wait and see.
Those who say it cannot be done should not interrupt those who are doing it