13 December 2012

USD/JPY : LT SHS Bottom in Play

  • 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.

3 comments:

Taichiseal said...

Taken partial profit @ 83.72

Taichiseal said...

Bought back at 83.43. Turn partial profit take into a day trade.

Core long maintained.

Taichiseal said...

Long position stopped out @ 83.73 (trailing stop).

Must look to re-enter long.