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.
So you think when it pops 100, it will head down under it again for a little while?
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.
That’s what I’m hoping Steven, but looking quite strong at present
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