Closed and reversed yen positions

6.03 bst

I was long USDJPY & EURJPY but it is undeniable that the price action in these pairs is pointing to a move lower in the near term. I have therefore closed my longs and gone short as follows.

USDJPY: Closed long from 99.18 at 98.81, -37 pips.

Now short $20/pip USDJPY at 98.81. SL at 99.21. Downside first target 98.40.

EURJPY: Closed long from 129.29 at 128.80, -49 pips.

Now short $10/pip EURJPY at 128.80. SL at 129.35. Downside first target 128.05, next 127.80.


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