EUR/JPY: Looking to sell into intraday rallies near 126.00

  • The EUR has made some strong gains on the crosses with stale shorts forced out in recent weeks;
  • I’m not hearing as much chatter regarding repatriations as I did up until a few weeks ago;
  • The JPY crosses remain quite bearish but pairs like GBP/JPY and AUD/JPY look oversold.

I’m looking to sell EUR/JPY at 126.00 for a move towards 113.00.

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