Re: [OpenFX] EURJPY: A Buy?

Tuesday, March 1, 2011

Clay,

Nice, i like hunting... 1st target after the pullback at 128.13 about the 1st of August?

Peter

--- On Tue, 3/1/11, clay@claymarafiote.com <clay@claymarafiote.com> wrote:

From: clay@claymarafiote.com <clay@claymarafiote.com>
Subject: [OpenFX] EURJPY: A Buy? [1 Attachment]
To: openfx@yahoogroups.com
Date: Tuesday, March 1, 2011, 9:49 AM

Hi Traders,

Is the Carry Trade back? For those who have been trading for more than five years, you might remember how the EURJPY and GBPJPY performed in this trade. In a word, it was "good". The attached chart shows how the EURJPY completed a long move down (Elliott 5 waves) and has broken a key trendline. As a longer term play, one might to consider buying this pair as it retraces part of the downside move.

Just a heads up. If you have questions, feel free to ask!

Cheers,

Clay