Added short: EURJPY @ 125.47

0.11 gmt

Yesterday’s hesitation in shorting EJ resulted in a poor entry. One has to be ruthless with decisions, as the markets move so fast. Anyway, the price action yesterday and so far today suggests strongly that we are in a serious EURUSD correction. Even if USDJPY were to remain strong, EURJPY will not rise much more. It is a worthwhile risk to short here.

Short $110/pip EURJPY at 125.47. SL at 126.05, but I might exit this at around 125.65 depending on the price action.


7 thoughts on “Added short: EURJPY @ 125.47

  1. HellboyFX

    hi zen – great going on adding to this short!

    i only got in on that big bounce this morning at 124.75….got a fright when it moved still higher to 125 but really looking in better shape now…thanks to these quick moves ive locked my s/l at entry + 30 pips….so lets see


    1. ZenFXTrader

      You know, I’ve been so focussed on the trading I have not really looked at my worksheet for about 2 days, apart from just adding the trades. I’ve got trade sizes worked out by a formula, working in percentages, so I pay less attention to the actual account figures. But yes, I should be over 100%. In my personal account I am already more than double, even after withdrawing some profit a couple of days ago.
      As I said in early-mid January having missed most of the yen move upwards: there will be ample opportunities when this thing turns down, as nothing ever moves in a straight line.


  2. HellboyFX

    nice going Zen!

    i love following your posts and very happy that you are doing good
    maybe showing me that i am following posts from a guy that know what hes doing!

    well done and please keep the posts coming
    have a nice weekend over there…sure you will!


    1. ZenFXTrader

      Thanks Hellboy. It’s good to have a serious FX trader reading the blog. There are far too many clueless traders around, and very few folks who treat this business seriously. Good weekend to you too.


  3. HellboyFX

    Hi Zen

    Hope the weekend was good over there..We at least beat NZ in the 7s finals which I enjoyed…

    Anyway – back to trading and the markets

    Yes – I’ve found it very difficult to come across serious fx traders in this industry – with that I mean guys out there on their own making a living from it. Thanks for the posts once again

    I am definitely not near where you are at the moment, but slowly getting there I believe…and I believe your posts are helping me..

    again – thanks



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