News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Forex Trading: Short EUR/JPY and GBP/USD

Forex Trading: Short EUR/JPY and GBP/USD

Jamie Saettele, CMT, Sr. Technical Strategist

Markets, Euro crosses in particular, are trading in violent ranges. Such conditions aren’t for everyone but nimble traders can take advantage. All ideas are posted via Twitter @JamieSaettele.

The EURJPY has backed off of the highs after exhausting post 8:30 US data. Given the extreme momentum readings at the high (Monday), more corrective activity is probably needed. Markets can correct themselves in time and price. In other words, it’s possible that price contracts into a triangle. I’m short from this morning and looking towards 11850 today and 11750 tomorrow. Watch the ‘50s’ in this market. 11650 (low was 11646), 11750 (yesterday’s close was 11743) and 11850 (pivot this morning in Europe was 11841) are all levels to consider for managing the trade.

The GBPUSD trendline break has me looking towards the November low at 15822 and the 4 year (has it been that long?!) trendline near 15700.

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for

To contact Jamie e-mail Follow me on Twitter for real time updates @JamieSaettele

Subscribe to Jamie Saettele's distribution list in order to receive actionable FX trading strategy delivered to your inbox.

Jamie is the author of Sentiment in the Forex Market.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.