Short UJ & EJ – late to the party

6.55 bst

I mentioned earlier in the week that I have started a regular activity in the daytime that keeps me away from the computer for 3-4 hours. It does help me by controlling the urge to over-trade, but the downside is that I miss some trade signals. Today the yen pairs have taken a turn for the downside and I missed a good entry  at 102.40 and 131.90 (because I was away. I had put in a limit sell order at 103.80 overnight expecting a test of 104 after the FOMC minutes, but UJ only reached around 103.60. The price action and the big picture indicate a big fall due in these pairs, so I have gone short here. I reckon there is still a lot of empty space below that needs to be filled.

Short $20/pip EURJPY @ 131.29, SL 132.03

Short $20/pip USDJPY at 102.17, SL at 102.60.

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