Could be, never looked at EUR/JPY. Unfortunately when you trade in pairs that don't involve your base currency, IB doubles your margin requirements (i.e. treats it as if you were holding positions in both EURUSD and USDJPY), which severely restricts your flexibility. I know I've done some dabbling in things like GBP/CAD, but I'm a reformed man.
USD/JPY looks to me like it's still heading south, maybe to 117.50 or 117. Then the carry trade should resume. I've set up a modest short, and if/when it gets down to those levels I'm in with all my chips, hoping to get a 700 pip ride augmented by a bit of channel trading on the way up.
USDCAD, as I suspected, went up too far too fast and is headed back to 1.04. It will stage a big rally eventually, but not until October I don't think.
EURUSD is looking awfully cheap at under 1.37, so that might be a better short-term ride than shorting USDJPY. Maybe I'll split my bets. I know you think it's heading south, but the eurozone economy is still looking strong and the US economy is still wobbling and the pundits are still calling for 1.40.
USD/JPY looks to me like it's still heading south, maybe to 117.50 or 117. Then the carry trade should resume. I've set up a modest short, and if/when it gets down to those levels I'm in with all my chips, hoping to get a 700 pip ride augmented by a bit of channel trading on the way up.
USDCAD, as I suspected, went up too far too fast and is headed back to 1.04. It will stage a big rally eventually, but not until October I don't think.
EURUSD is looking awfully cheap at under 1.37, so that might be a better short-term ride than shorting USDJPY. Maybe I'll split my bets. I know you think it's heading south, but the eurozone economy is still looking strong and the US economy is still wobbling and the pundits are still calling for 1.40.