EUR.JPY Long
I see increasing volatility on the daily chart, with counter trend bullish moves getting farther past the 20 ema. This current push looks like a CT Bullish impulsive.corrective move, with next leg looking to be bullish.
Fundamentally looks like markets are back to risk on, particularly after dovish FOMC, with commodities, stock indexes, rallying, all negative for yen.
Also, it looks like the more important, Level 3 news for the euro coming out this week looks to be above previous numbers, so expectations and timing look on
So I'd be looking for an entry around 125.5, with stop under 125.23, and I would be looking to ride the risk on sentiment while it lasts.
Fundamentally looks like markets are back to risk on, particularly after dovish FOMC, with commodities, stock indexes, rallying, all negative for yen.
Also, it looks like the more important, Level 3 news for the euro coming out this week looks to be above previous numbers, so expectations and timing look on
So I'd be looking for an entry around 125.5, with stop under 125.23, and I would be looking to ride the risk on sentiment while it lasts.
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