Currency Pair: EUR JPY
Action: sell 50% at market (129.64) and then at 50% sell limit at 130.10
Stop-loss Price: 130.50
Profit Target/ Exit Strategy: Targets are to 129.49, 128.26 and 126.99 (sell 1/3 of your current position at each level)
Time Frame: Short-term
Order Good Till: Cancelled
Comments: With bullish signals on the week confirmed with gains of over 1 ½ Big Figs, the end to a long sequence of higher daily lows switched Thursday’s signals back to bearish. These too were confirmed as of this week’s improvement was given up with a strong 1 ½ Big Fig sell-off. This is negative and signals continue to point lower, so with this in mind the outlook for Friday is to sell on the open and then at 130.10, with a stop loss at 130.50. Targets are to 129.49, 128.26 and 126.99.