Closed USDJPY long @ 88.82; EJ long at 118.13

22.55 hrs gmt

We’re definitely going to see 90 and 120 again in the next few days or weeks which is why I had kept open the longs. The daily close suggests that we will see a deeper correction in the yen pairs. It will be better to re-enter the longs at a lower level later.

Closed USDJPY long from 89.57 at 88.82 for -75 pips, -9.2%. Note that I have a larger  offsetting short from 89.08 where the gain is over 6% so this loss is not as big as it looks.

I am doing the same with the EURJPY. The nominal loss is bigger there.

Closed EURJPY long at 118.13, -154 pips, -19.1%. The offsetting gain in the shorts entered at an average level of 118.92 is nearly 20%.

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