I got asked to analyse this pair.
EurJpy is running into a very important zone.
The 115.00/116.00 level is very crucial, and i think in the shortterm we will see a bottom forming in this area.
Now the question is what will happen in the french election.
I dont know. I guess Macron will make the race, everything speaks for this outcome, but nothing is sure as we have seen in trump and brexit cases.
So i personally prefer to stand aside for now on this pair.
If one like to bet on the french election "fears" i believe the EurJpy is the best play out there.
I also believe the first round in the french election is the most important, its important to see who will face le pen in the second round.
In the mean time we are simply in a very strong downtrend. If i would want to play this pair i would wait for it to at least form a good bottom and break this red trendchannel higher. So i will have a higher probability of a move going toward 120.00.
Hope this helps.
EurJpy is running into a very important zone.
The 115.00/116.00 level is very crucial, and i think in the shortterm we will see a bottom forming in this area.
Now the question is what will happen in the french election.
I dont know. I guess Macron will make the race, everything speaks for this outcome, but nothing is sure as we have seen in trump and brexit cases.
So i personally prefer to stand aside for now on this pair.
If one like to bet on the french election "fears" i believe the EurJpy is the best play out there.
I also believe the first round in the french election is the most important, its important to see who will face le pen in the second round.
In the mean time we are simply in a very strong downtrend. If i would want to play this pair i would wait for it to at least form a good bottom and break this red trendchannel higher. So i will have a higher probability of a move going toward 120.00.
Hope this helps.
