Trades

Trade / 15m

danicorporate

Sold 100,000 EURJPY FX Spot @ 127.661

Trade / 32m

lucide

Bought 100,000 EURJPY FX Spot @ 127.369

Trade / 1h

ID153

Sold 100,000 Euro/Japanese Yen FX Options 127.00 Call @ 0.25. Premium: JPY 25,100.00. Expiry date: 27/07/2017. Exercise method: Spot

Video

From the Floor: Oil tumbles, risk-off spreads across markets

#SaxoStrats

A further slide in oil prices has driven risk-off sentiment across equity, currency and fixed-income markets. The selloff in oil and other commodities has hit Australian mining and energy shares hard, and the widespread risk-aversion puts the focus on currency pairs such as EURJPY.

22 May From the Floor: Risk-on in Asia after Fed's Bullard hits dovish note

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25 April What's up with the euro — #SaxoStrats

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18 April Why I'm looking to buy EURJPY: Coleman

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Day trade

Trade view / 23 September 2016 at 6:12 GMT

EURJPY rally signalled as corrective

Steve Lucas

partner and technical analyst / 3 c analysis

United Kingdom

Instrument: EURJPY

Price target:

Market price:

Background

Our signals have been bearish on the week and Wednesday's bounce has attracted sellers at the 13 and 50-day average rates. Another bounce yesterday is also signalled to be temporary and we are looking to take advantage of this, or if not and the market falters we will also sell through support.

Management and risk description

We are staying square on the open, but looking to sell into strength or down through support. If either trade is executed the stop can be lowered to entry once the first target is met.

Parameters

Entry: sell at 113.90, a 78% recovery to the losses since Wednesday's high or sell at 112.60, Thursday's Marabuzo line.

Stop: the stop on the sell rally is at 114.41, Wednesday's high and the sell through support at 113.10.

Target: 112.08, this week's low and 111.25.

Time horizon: today only.

Source: All charts CQG. Create your own charts with SaxoTrader; click here to learn more

— Edited by Gayle Bryant

For more on forex click here

Non-independent investment research disclaimer applies. Read more

23 September

Paul Sumner

Hi Steve, is 113.90 the correct entry or should that be 113.60?

23 September

Steve Lucas

113.90 is the fibbo not sure what 113.60 is but im using 113.90 cheers

23 September

AlexF

Short GBPUSD was the trade of the day

23 September

Steve Lucas

sure was - my partner alan collins covers stg - think he used eurgbp which was close 2nd

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