DAILY SPOT EURJPY - Wednesday's trade idea and technicals
Despite posting 3 unchanged daily closes in a row, a loss of bullish momentum with prices testing their 50 & 100 day average rates left Tuesday’s signals pointing temporarily lower. Although these were confirmed with losses of almost ½ Big Fig, prices have remained inside Monday’s range. Signals for Wednesday remain negative, but more cautious and the call is to sell just modestly on the open and then at 125.39, the 50 day average rate with a stop loss at 125.64, this week’s high. Targets are to 124.98, this week’s low, 124.47/60, the 2nd/3rd, April base and 124.13, the 29th Mar low trade.
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