25 March 2010

USD/JPY : New Game Plan

  • Significant changes in chart over the past 24 hours.
  • Various longer term downTLs broken although not confirmed yet by closings (now at 91.80).
  • Small long USD/JPY first (at 92.08 last night).
  • Add to position upon break of yesterday's high at 92.40.
  • Always clear and present danger that this is the near term top; USD/JPY is especially tricky in this kind of situations. Be prepared to look like a fool, be quick to abort if it looks like we will not close above the weekly downTL.

1 comment:

Taichiseal said...

Stopped in long USD/JPY @ 92.38