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5/27/07 12:17 PM -07:00
While I celebrated the
successful short on EUR/JPY, from
163.77 to 162.77,
the drama continued to unfold in this
pair on Friday, 5/25. First, the
pair hit the overnight low of 162.20,
and then it started its rebound and
never looked back. At the close on
Friday, it stood at 163.70. This
is just unbelievable. I guess this
is the power of the Japanese Yen carry
trade. Every dip in EUR/JPY is
another long entry.
The MACD histogram still shows
divergence in regards to the pair's
bullish trend. However, I would
wait a few days to see if the price
would set new highs.
Click the image to see the full size
Last
Updated:
Sunday, October 07, 2007 10:27:35 AM -0700 |
