USDJPY: closed long and reversed @ 102.76; +63 pips

15.14 gmt

We’re seeing a dip in this pair and my system has signalled a short. The longer term picture is still strongly bullish, so I am taking a relatively small short here.

Closed USDJPY long at 102.76, +63 pips.

Now short $5/pip USDJPY at 102.76, SL at 103.40.

GY is strongly affected. The 38.2 Fibo of the huge GFC range is at 169.38, which will cause at least a speed bump here. But the overall picture is so bullish, this pair will turn around again and break 170, targeting 185. I will monitor this closely.

EURJPY is being boosted by EU strength, but the yen strength may make this pair also dip. I am looking to take partial profits and hold a small position for a longer term trade.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s