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Nicolas Trad
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Currently on the Global Markets Graduate Program with Standard Chartered Bank in Dubai. Previously: Sales & Trading summer analyst at Goldman Sachs in London.
  • EUR/JPY Trade - May 04, 2012 0 comments
    May 4, 2012 10:19 AM

    Short EUR/JPY at 104.50, Stop at 106.00, Take Profit 101.50

    Fundamentals:

    - Deteriorating european data

    - Spain worries

    - Weak European PMIs, higher than expected unemployment

    - Yen safe haven status

    Technicals:

    - Head and shoulder pattern forming; right shoulder above neckline

    - 200-day MA at 104.59 (Daily Chart)

    * Trade could be undermined by BOJ intervention, positive euro data

    (click to enlarge)

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