khansalarehsan

Is EURJPY ready for a substantial move?

Corto
khansalarehsan Actualizado   
FX:EURJPY   Euro/Yen japonés
This is Weighted Average Yen on Daily TF. See where it is now. It seems the pitchfork median is broken and YEN might go lower. If we see a clear close below the most recent Low then EURJPY can make a big move.

Comentarios:
Do not forget that Stocks are negatively correlated with YEN. Hence a break of the wedge formation for SPX500 shown below to the topside would translate into a YEN falling lower.
If you want to make sure for opening a new long-run trade on EURJPY Long, you could wait for a close on the Daily candle for SPX500 outside the wedge formation then you can go Long EURJPY.

Comentarios:
And of course, it is a Long trade ;)
Comentarios:
And if you look at European Stock the break has already occurred...

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