July 21st, 2010
Trade #41: Buy EUR/JPY @111.88
It’s 09:25 and I just mad a U-turn. The Euro has been trying to break through the 113.30-ish area for a few days. As I wrote yesterday, a couple of posts ago, very possibly the ECB is going to come up with some fantastic-looking results of its banks’ stress tests on Friday.
Stop loss: as per the trading plan
Target: some 70-80 pips above the resistance at 113.40, haven’t set it yet.
The daily chart:
