Saxo Group Videos

Coleman: A correction in EURJPY

With a bearish outlook on all JPY crosses, Ian Coleman from First 4 Trading is targeting lower levels in EURJPY on Tuesday morning. He believes that this particular currency cross offers the best risk/reward ratio at the moment.

Since last week there has been short-term negative sentiment in the market after posting a bearish outside week. Ian also notes that EURJPY has broken out of an intraday channel formation to the downside and there is evidence of a 261.8 percent extension level just below JPY 144.31.

Given these bearish signals, Ian is looking to sell EURJPY at JPY 146.40. His two targets for the trade are JPY 145.00 and JPY 144.50. A stop can be placed at JPY 146.80.

Join the conversation below to be a part of the social trading experience.

Non-independent investment research disclaimer

Full disclaimer

01:16 minutes
Tags: eurjpy, euro, euro strength, euro yen, forex, forex and more, forex buying, forex eurjpy, forex idea, forex market, forex markets, forex saxo bank, forex strategy, forex trade idea, forex trade ideas, forex trading, fx, fx crosses, fx eurjpy, fx exchange, fx forex, fx interbank markets, fx investing, fx market, fx markets, fx options, fx saxo bank, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx trends, fx volatility, fx volatitily, fxspot, ian coleman, ian coleman first 4 trading, ian coleman traders tale, saxo, saxo bank, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotv, trade idea, trade view, trader, traders tale, traders tale ian coleman, trading, trading currencies, trading fx, trading idea, trading platform, trading risks, trading strategy, trading tips, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com insights, tradingfloor.com saxo tv, tradingfloor.com trade ideas, tradingfloorcom, yen, yen weak, yen weakness

Switch to