JPY crosses/Trade Ideas/USD/JPY

EUR/JPY trade update

     As always with these things, I wish I’d sold more but such is the nature of trade-building that we must take care of the risk element first. I’ve got a small short position with an average entry level at 104.20 and I shall wait and see how the market develops on Monday before deciding on my next step. The important technical level to watch on the downside early in the week is at 101.90, which was a previous pivot and is now a 61.8% retracement level.

In USD/JPY, watch for trailing stops below 79.50 to attract dealers attention early on Monday morning.

Leave a Reply

Your email address will not be published. Required fields are marked *