Usd/jpy trade

Trading Systems
1

Hi all,

Heres a trade im about to enter.

sell usd/[email protected]
[email protected]

target [email protected]
target [email protected]
target [email protected]

Lets see what happens, hopefully gets some nice pips :slight_smile: i’ll keep you informed as to what im doing.

2

I’m short as well but my entry is at 94.05. We should get a nice down swing throughtout today into next week.

3

Hi m8,

Yeah I got in a little late on this trade, I trade manually and my entry formed over night while I was asleep lol.

I would have got in at 94.30 if I were awake!! Anyway it doesnt matter, thats the nature of the beast :slight_smile: Can’t catch them all, and I don’t try too either :slight_smile:

4

hi all,

unfortunately i was stopped out :frowning:

trade result: -50pips

well… i’ll try and keep loses to a minimum.

5

How about posting some charts? :slight_smile:

6

Definitely some charts would show what you are trying to describe…

7

I structured my thoughts re the USD/JPY here: Trading Blog

Basically considering if the long-term downtrend of the USD/JPY might end and we have seen the low at 87?

Pls feel free to review and comment.

Thanks.

8

well, seems I am a contrarian. The hammer pattern formed on the 4hr USD/JPY chart. I went long with a small amount. SL 93.15

9

Update, Thu 27.08.09, 22.14 GMT: The USD was weak during the US session, especially vs. the EUR. That also impacted the USD/JPY exchange rate. The US$ dropped to 93.20, just before the Stop-Loss of 93.15. Since, the USD came back to 93.50 forming an other candle with a long lower shadow. Chances for a reversal are there. However, event-risk (J and US data on Fri) and the negative USD momentum are still a considerable risk. For new positions better wait till next week.