MoneyTec Traders Community Forum - View Single Post - EUR/JPY..is this the best pair to trade ?

initialsBB · 11-10-2006, 08:01

I don't trade it, but i've been following it for some time now, and it seems like a good pair to trade. It's also called fifth major (this is for those who claim that you should trade majors), has low spread and i think Reuters does not quote it as a composite (not sure for that though). Just by looking at the charts you'll notice that the tunnel between EMA 144 and 189 on 1H is important support/resistance as the price often retraces to this area. So this would be good for buy dips/sell rallies scenarios.

11-10-2006, 08:01	#9
initialsBB level 2 Join Date: Oct 2005 Posts: 120 Downloads: 0 Uploads: 0 Rep Power: 3	Re: EUR/JPY..is this the best pair to trade ? I don't trade it, but i've been following it for some time now, and it seems like a good pair to trade. It's also called fifth major (this is for those who claim that you should trade majors), has low spread and i think Reuters does not quote it as a composite (not sure for that though). Just by looking at the charts you'll notice that the tunnel between EMA 144 and 189 on 1H is important support/resistance as the price often retraces to this area. So this would be good for buy dips/sell rallies scenarios.