Yen Pairs: Flip to short

1.30 gmt [I am changing all time reference to gmt, from now onwards]

The system is on the verge of a short in USDJPY, awaiting the close of the current candle. Looking at all other pairs and the DXY, and the fact that this is Friday before the Japanese upper house elections, I reckon it is worth a risk to go short here. Accordingly,

close UJ long from 99.93 at 100.30, +33 pips. Now short from 100.30 with SL at 100.85.

Closed EJ long from 131.35 at 131.50, +15 pips. Since EJ is not close to a sell signal, I prefer to stay out of this pair. It is in a range of about 150 pips with swings of 100 pips within an hour. Too risky when the direction is not clear.

So now I am long EU, GU and AU, and short UJ. Basically dollar weakness.

Tight ranges, slow markets, so the pip harvest is relatively small.


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