EUR/JPY is still not able to break free from the 50-day MA/100-day MA zone right now. At this point, the upside is still capped at the 140.87/141.25 zone. We do not see any new break clues to suggest that this mkt will fly through that upper zone. There is risk of another pullback, but that would also be contained for now near the 100-day MA at 139.04.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
No comments:
Post a Comment