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Clive Lambert - FuturesTechs
Clive Lambert of FuturesTech explains why he is long EURJPY. 128.88 and 128.99 are both levels of focus today, Lambert says, and ideally he is selling around 128.75 with a 50 tick trailing stop. His targets are at 126.23 and 125.08.
Day trade
/
Sell
Trade view / 08 August 2017 at 5:55 GMT

Weak demand points to negative sentiment towards EURJPY

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURJPY
Price target: ¥130.60
Market price: ¥129.55
Background

The stalling of demand at the 200 week moving average remains the key background element for EURJPY. Although some demand was attracted yesterday, that point remains unbroken.

That failure is countered by intraday buying interest above the 13 day moving average – a level unbroken, on a closing basis, for almost two months. Until that point is breached effectively, negative signals cannot be strong. But they are left negative for a renewed test of the 13 day moving average.

Management and risk description

A move to ¥130.27 means the stop can be lowered to break even.

Parameters

Entry: Sell in ¥130.60/¥130.65 area and at ¥131.12.

Stop: ¥131.57 bid.

Target: ¥130.27, ¥129.84 and ¥129.55.

Time horizon: Intraday, ending 1500 GMT.

Above average
Above Average
 Testing average
 Testing Average Long-term trend
Long Term












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— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
08 August
AlanCollins AlanCollins
First target at 130.27 met so stop is at breakeven
08 August
AitorP AitorP
Perfect!
09 August
AlanCollins AlanCollins
Thanks - hopefully the market will be as kind today

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