You should have just covered your USD/JPY shorts at the 119.20 target for a 30 point gain as we are about to reverse course to be triggered long dollars. EUR/JPY found 150 resistance, which allowed us to be short USD/JPY for that quick 30 point winner, as we are working into our EUR/USD shorts (long dollars).  I'm offering to sell EUR/USD short on a 1.2585 average with stops above 1.2610. The target will remain open for now.

Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

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