Short EUR/JPY

gpb jpy and eur jpy
for long term trading in gpc/jpy :191 was the begining of going up until it reach 250 that may happen in two years
for short term in the coming weeks it ll go down to 195 and then start go up
that is my opinion i d lik to know wat do you think?

 

Just took 14 pips gain on the second 1/4. Will short it back if bounce up.

 

Covered 27s. EURUSD is catching a bid.

 

Re-entered the second 1/4 short EUR/JPY at 160.37. Time: 1:13PM.

 

Took it off again for 14 pips gain. Will re-enter on a bounce up if any.

 

Nice catch! What people make in a day, you make it in 5 minutes hitting two buttons! LOL.

Thanks for mentioning EURusd. I had placed some shorts. Just covered them (bottoming on the 5 minutes chart). Do you think the dollar has bottomed? Also did you notice that run away from the last visit to the top on EUR/USD.

Also, do you know what is the correlation of EUR/USD and EUR/JPY? Thanks.

 

I think this is a bottom in the USD which will hold for April at least. The EURUSD : EURJPY is the synthetic USDJPY. I am bullish on dollar-yen until SPX 1400.

 

1:27PM: re-entered the second 1/4 at 160.36. This time I plan not cover it back quickly. If it goes down it may go deeper.

 

Sold EURUSD at 1.5741. The logic is to sell EURJPY and buy USDJPY.

 

Thanks.What I was trying to say is when eur/jpy is going one direction, what is the prob that it does it when the eur/us is going the other direction. I know that EUR/USD and USD/JPY are negatively correlated (the non-USD world "moves" in the same direction when the USD world moves).

Also with regard to equivalence I think I know what you mean (product of prices), which implicitely assumes zero position on the intermediary currency. For instance, to obtain long EUR/JPY one needs to buy as many USD in USD/JPY as one gets as a result of buying EUR/USD.

But if one buys one lot of EUR/USD and sells one lot of USD/JPY, it would not be a one lot of EUR/JPY unless EUR and USD were to trade at parity. So my question on correlation was rather if I would to look at the correlation from a 1 lot point of view on each of the three pairs.