July 31, 2018 08:32: European Yen Trade Strategy [From Mr. Satoshi Emori's Newsletter]
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GogoJungle is pleased to present a brief excerpt from Tetsu Emori's investment e-newsletter "Tetsu Emori's Real Trading Strategy," taken from this morning's distribution. This time, please take a look at the trading strategy for the euro/yen that shows signs of rising.
We will refrain from taking a position on EUR/JPY for now. Longs can be considered, but we will wait one more day. This week has a lot of data, so there is no need to rush. If the price stays around 129.80 yen and surpasses 130.50 yen, going long becomes easier. Conversely, if it breaks below 129.20 yen, it tends to decline. The fair value is 126.30 yen, so the current level is slightly overvalued. The long-term trend is 128.30 yen, and the long-term uptrend remains intact.
‘Tetsu Emori's Real Trading Strategy’ (Tetsu Emori) quotes.
ECB does not appear to be actively unwinding its easing measures yet, but how will the market react to that? (Editorial staff)
EUR/JPY, 1-hour chart.
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