Yesterday was a day to remember and how the markets behave in a way that the most of the people do not expect. The drop in the USD/JPY is because the Dollar has lost many supports but also because we are seeing the SP500 correcting and the Japanese investors are getting yens and selling dollars. At least yesterday we were short.
I state this because we could see a change in the Euro, its economy is weak, but if the SP continues correcting we will see our cross falling.
This morning the cross has suffered a big fall following the USD/JPY. It has stopped around 127.00 and this level is important because it was the start of the last wave up and now is an important support, after this big fall we will see some correction but I do not expect to go above 128.27 38% Fibo of the last wave down at least in the morning, in the afternoon with the NFP everything can happen and we have to wait without position till we know the news.
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EUR/JPY: A Change In The Euro?
Published 06/07/2013, 07:47 AM
Updated 07/09/2023, 06:32 AM
EUR/JPY: A Change In The Euro?
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