Wednesday, February 25, 2015

New Signal EUR/JPY

*Signal Update:  As of 02/26/2015 @ 7:18 EST The Global Currency Scalper cancelled its open order on EUR/JPY.

As of 02/25/2015 @ 8:32 EST:

We have identified a possible short trade in EUR/JPY.  This pair has experienced a sharp selloff since the beginning of December 2014 and has since bounced to the 23.6% Fibonacci level.  Consolidating around this level for close to three weeks this pair is starting to show some signs it's about to rollover.  We would like to see a certain level be taken out which should give the shorts some more conviction to take this pair lower.

The Global Currency Scalper will be taking EUR/JPY short with a break of 133.430, targets are 132.400, then the figure of 132.000 and if a further breakdown happens we could see 130.900.  We will be placing our stop with a break of 136.750, if this level is breached prior to initiating a position our view will turn neutral and further evaluation will be needed.