EUR/JPY just cleared long protective stops from the last 5 hours.
Appearance of a trendline break most likely also suckered in fresh shorts.
Watch for this to run up to the 136.18 area, that is 50 pips up from our current location.
**5/20 update: this long call was only good for 20 pips, never made it to the 136.18, and monster 100+ pip short bar took all traders by surprise. This is the first target we did not hit to the pip in 30+ days (was still a profitable long).
We were able to get a few mixed trades since this one, are short now, looking for 134.00/133.93 as target, and have limit longs sitting around the 133.77 area for move back up to 135/136's.**
Appearance of a trendline break most likely also suckered in fresh shorts.
Watch for this to run up to the 136.18 area, that is 50 pips up from our current location.
**5/20 update: this long call was only good for 20 pips, never made it to the 136.18, and monster 100+ pip short bar took all traders by surprise. This is the first target we did not hit to the pip in 30+ days (was still a profitable long).
We were able to get a few mixed trades since this one, are short now, looking for 134.00/133.93 as target, and have limit longs sitting around the 133.77 area for move back up to 135/136's.**