Wait for the Euro/Yen trade...

If we get a pullback in the Euro/Yen to the 132.30 area, it will be a good buy. Another term for this is a 'swing trade.' Its a way of trading that I am still learning about that is based on pullbacks in any trend. So when people are taking profits, and getting out of their positions, the pair naturally corrects and makes a natural entry point into the same pair.

The system I use uses a 34 EMA, and much more often then not, that's where the new buying (or shorting) will come in (Clicking on the chart gives you a clearer view):



The bottom moving average, closest to the banner, seems like a good entry point to a pair that closed at a six month high on Friday.