Just far enough

That’s what makes markets frustrating. You don’t mind so much if a trend switches from bearish to bullish but you tend to really mind when they just move far enough to shake you out of a position. That’s what just happened in EUR.JPY. prices moved through downtrend resistance, through overnight highs and above 121.00, just far enough to stop out a slew of short-term bears but not enough to sustain a shift in direction…

EUR/JPY has dipped back to the 120.30 from 121.07 highs.