So far in the month of June, the risk trade has come back across a number of markets, with US stocks making a very fast return towards their prior all-time-highs. At the source of the move is an expected shift at the Federal Reserve in which the bank gets more dovish in their forward-looking projections, and this can be evidenced in Gold prices. The Japanese Yen has continued to harbor a bit of strength that’s so far disallowed pairs like USD/JPY or EUR/JPY to re-approach prior resistance. Begging the question as to whether the FX market may be highlighting an element of risk aversion that waits in the wings.
EUR/JPY SHORT (SELL)
Enter at: 121.280