- Fed QE4 just announced. Risk ON.
- Long USD/JPY = risk on, unlike almost all other pairs where risk on = sell USD.
- 16Dec : Japan elections. Likely new PM Shinzo Abe = policy to weaken JPY.
- [Interesting : Fed criteria for ZIRP reversal = Unemployment rate < 6.5% and/or inflation > 2.5%]
- The big SHS bottom is now in play.
- Trade : Added to long USD/JPY position at 83.00 tonight. Stop moved up as well.
13 December 2012
USD/JPY : LT SHS Bottom in Play
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3 comments:
Taken partial profit @ 83.72
Bought back at 83.43. Turn partial profit take into a day trade.
Core long maintained.
Long position stopped out @ 83.73 (trailing stop).
Must look to re-enter long.
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