I am neutral on USD/JPY.
The magnitude of Middle -Eastern events
has been
extraordinary. This sent oil up and the dollar down, with the yen being
one of the big winners. When the Libyan crisis ends, dollar/yen will
rise back up, but the level of uncertainty is very high.
I am neutral on EUR/USD too.
The clear statement about rate hikes
will continue
to boost the Euro, as well as the strength in Germany. On the other
hand, the US economy is moving forwards, as seen in the improving job
market, and another round of the debt crisis is around the corner.
Choppy trading is likely, until a new direction is seen –
probably down.
[forexcrunch]
EUR\JPY = EUR\USD X USD\JPY
Movement will be neutral as well. Or
may turn bearish.... See chart....
Trade Idea:
EUR/JPY- Sell (Stop Limit) at 115.50; Target: 112.00 ; Stop:
116.50.
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