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Suggested shorts on EUR/USD (26 March) at $1.0971 are working well and I feel moving stops to breakeven is prudent. Momentum indicators are starting to work in favour of the trade idea again and a break of $1.0813 (38.2% retracement of 25 February to 13 March sell-off) would suggest a move down to the $1.07 area. I continue to look for downside prior to Friday’s non-farm payrolls.
Longs from 27 March (at ¥119.24) are working nicely as well. The pair is now testing trend resistance drawn from the 23 December high, so a daily close above ¥120.22 would be highly positive for the idea and suggests adding to the trade, with stochastics and the 14-day RSI also moving higher. Stops on the idea could be moved to breakeven.