Strength in the US dollar and Japanese yen had been the prevalent theme during the previous three trading days. Today’s European session brought more of the same, leaving New York traders with virtually identical technical setups on multiple currency pairs. A combination of technical and fundamental analysis pointed to the EUR/USD or EUR/JPY as the pairs which offer the best potential for a profitable move. The euro delivered, dropping to the tune of 150 pips against both the dollar and the yen.
