Flows and Orders/FXWW News/Trade Ideas/USD/JPY

USD/JPY: Covering shorts at 98.10

I’m booking my 140 pip profit (see trade) as I want to concentrate on the AUD around the time of the RBA. (Plus I see @FXWW303 is also booking profits on his intraday shorts and his levels are usually pretty good).

  1. We might get some triangle consolidation for the rest of the month in the yen crosses. I think September used to be bad for equities (correct me if I’m wrong) and I think we’d need some S&P500 losses for breaking the summer ranges in USD/JPY. Otherwise this has been a swing trader’s dream the last month or two.

  2. Hi Sean,

    My order has not been filled at 97.80 for this overnight. I just covered at 98.38, I book +109 pips :-). Lets try other sell rallies for this pair near 100.00 ??

  3. Agree Susanna, also need to keep eye on positioning in case we get August squeeze. But at this stage, sideways stopping everyone out is certainly looking likely

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