Background - USDJPY sold sharply from 111.4 May 3rd to 109.7 May 10th and has since stabilized around that price, accumulating. In the past 2 weeks the USD has been selling mildly in some minor pairs as well as against the EUR while being bought against CAD and AUD. In other words the USD has been broadly trading flat while the AUD sold and JPY bought in the past few weeks. This offers an opportunity to take advantage of USDJPY sells taking profits by selling the JPY in a hedge with a duration of 1-6 weeks.
1-6 Week JPY Sell Hedge Pairs (In Order Of Allocation)
Strategy - option to double down once per pair
Lot size equals X
GBPJPY X-3 Quote 140.98 Target 143.25 (1.6% difference)
AUDJPY X-2 Quote 75.92 Target 77 (1.4% difference)
CADJPY X-2 Quote 81.53 Target 82.5 (1.1% difference)
SGDJPY X-2 Quote 80.03 Target 81.25 (1.5% difference)
EURJPY X-1 Quote 122.78 Target 123.75 (0.7% difference)
USDJPY X-1 Quote 109.54 Target 110.75 (1.1% difference)
SELL CHFJPY X-2 Quote 108.56 Target 107.75 (0.7% difference)
PS - I haven’t created my new format organizing my style of posting yet.