No obvious risk-reward trades; booking USD/JPY profits at 96.40
I’m still running a small USD/JPY short but as a typical superstitious trader I feel that my excellent run of recent days might be coming to an end (my profit target at 95.50 missed by 8 pips earlier today and then we got a 170 pip bounce). When you’re really in the zone (read lucky) those profit targets get triggered!
I’m booking my profit here at 96.40 in USD/JPY, it was only a small position but 360+ pips still add up to a nice trade and I’m now position-less and likely to stay that way until next week (I usually sit out the NFP lottery).
Some trades which will tempt me are:
- Any dips towards 1.5400 in cable.
- Any dips towards .9300 in AUD/USD.
- Any rallies back to 129.50 in EUR/JPY.
If they don’t happen then I will stay out.