|EURUSD daily. Reuters|
On top of this there is the clear hourly bounce perfectly at the trendline suggesting we may bounce in the short term.
|EURUSD vs. EUR1Y swaps. Reuters|
The first test to the upside is 1.3050, which if cleared 1.31 will be tested and if ECB allow, 1.3150 will be seen pre-NFP. However to the downside we see 1.2950 being crucial for directional momentum with the key 1yr trendline still being in play at 1.2925.
Below there and a break of 1.29 sees the 1.28 to 1.27 being tested and most likely even worse for bulls.
Overall in terms of the EUR, I remain bullish in my long position opened at 1.30.
Now onto the USDJPY short from 99.75, the timing on the trade was poor with a 100 pip drawdown at one point but seeing as the USDJPY managed to retrace (on Portugal/Risk fears) then we traded down to 99.26 at the lows.
I covered short for +25 at 99.50 on the move back up as Portuguese spreads were turning around.
Overall, poor timing but correct direction allowed for only a small profit, but there was much more potential.
EDIT - Widened trade limits for NFP, will watch carefully, but as it stands holding -80