USD/JPY

USD/JPY: Taking a small short position

I think the break below 100 was a big event and now that we’ve had the usual Asian reversal, I’m opting for a small short position just above the big number; let’s see what happens.

Edit: Adding smalls at hourly trendline near 100.30, but keeping overall positions small for now.

  1. Good luck! Personally I think USD/JPY remains in an uptrend, so long as it closes this week comfortably above 99.0. The reaction to the US employment numbers – good or bad – should be telling.

  2. I’m definitely not married to this position fxgai, but I think the market is trying to buy dips at 100, which is the wrong level. Its already come 25 big figs so I expect a few more long clean-outs. If EUR/JPY breaks 12900 then that cud be nasty according to my tech analysis

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