November 09, 2018 08:29: EUR/JPY and EUR/USD trading strategy [From Mr. Teppei Emori's newsletter]
From the real-time trading newsletter “Tetsu Emori’s Real Trading Strategy” by Tetsu Emori, provided by GogoJungle, here is a small excerpt from this morning. This time, please take a look at the trading strategies for EUR/JPY and EUR/USD.
We maintain a long position on EUR/JPY. We will close the position if it falls below 129.50. It’s starting to feel like a ceiling has formed. It also looks like we failed above 129.90. If it declines, close mechanically. Fair value is 128.80. The long-term trend is 128.40.
For EUR/USD, we unwind the long and go short anew. There is room for further decline. Fair value has fallen to 1.1315. The long-term trend is 1.1655.
From “Tetsu Emori’s Real Trading Strategy” (Tetsu Emori)
The dollar is broadly stronger, and even against the euro it is rising. It will be interesting to see how long this dollar-buying trend lasts. (Editorial staff)
