Currency Focus: Looking at the EUR/JPY

The 112.00/20 area is an attractive area to long the pair.  There is good support in that area and the pair looks to be successfully challenging resistance. The pair looks capable of reaching 1.1470/80, and we can expect the pair to struggle there.  The key is whether it can eventually blast through, opening the door to 120.00 and beyond.

With the pair respecting the 112.20 support area, I am going to long the pair at current market levels.  At the 1.145 area I will look at whether it's time to take some profit, hold the pair, or short it if it looks like the pair has lots all momentum. 

Please see my Trade Joural for current entry and exits.

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