The yen pairs are frustrating me. I am aware this is August, the worst month for liquidity and trading can be pretty frustrating at this time. There is no follow through to breaks, and a lot of chopping around. Both yen pairs look heavy, EJ especially very heavy. I’ve decided to cut my loss ahead of the weekend.
Closed EURJPY short at 128.36, -106 pips. (At only $2/pip this is bad, but within risk parameters).
Closed USDJPY short at 96.27, -47 pips.
Update 16.16 gmt: Just as I closed my trades both yen pairs started rising. EJ is up +20 pips and UJ is up 11 pips! Sometimes the timing feels so uncanny, I wonder if such small orders can move any market!
Update 16.35 gmt: S#*t! EJ is now at 128.70, +35 pips and UJ is at 96.45, almost +20 from where I closed. I picked precisely the low of the day and maximized my loss ;-( !