FXWW News/USD/JPY

USD/JPY: Still running small short position

My short USD/JPY trade didn’t look great on Friday night and it looks even worse now, well over 100 pips out of the money. Luckily I only took a very small position but adding at current levels near 113 is not really an attractive proposition nor is closing the position after what might have been a typical early-Asian market spike in illiquid Monday markets.

I’ve been wrong on this pair consistently in recent times so I will try and limit the damage on this latest trade and get out of the Yen-bears way.

  1. Thanks for sharing your losing trade. Especially in times like this.
    It helps me put things into a more realistic perspective

  2. Hi SLee!

    ..If J/$ touches and backs down from 113’sh…. I believe the BoJ.. want’s to touch 115’sh..

    Buy a dip?

    Because the E$ doesn’t seem to have a reason to steam up / So the $ is bound UP

    Yes???

  3. When strong up swing happen, buy dip often miss out, sellers were killed out even if big stop loss use. After loss of momentum, pullback, then, if you buy, then, you buy dead horse.
    Japanese export business go worst, loss of cash flow for country. They got debt, they want to print more trillions, they are evil to use retired money to pop up Nikki, etc. terrible….. Bankrupted, yen drop more.

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