Potential breakout on the USD/JPY

Long EUR/NZD at 1.6780

Now get up there boy and show me the money!

 

Stopped at 1.6750 (minus 30 pips). Possible long re-entry later if the trade is still valid.

Never argue with the market.

 

are there buyers coming in?

 

Well, I hope so!

Here is the situation: the breakout on the EUR/NZD was good for over 250 pips, but unfortunately I did not initiate a trade immediately, I wanted to buy on the pullback at 1.6780 but was stopped 30 pips later.

Now the EUR/NZD has touched the support line, if it bounces back I will consider going long again. This time the profit potential could be quite substantial!

So let's wait and see...

 

oil may help to add something to the story.

now if oil goes up, which way does the 6J like to go?

 

I doubt it.

The CAD/JPY is highly correlated to oil, however.

Quite frankly I do not have a clue, I do not trade with fundamentals.

 

Long GBP/AUD at 1.8460

 

+40 pips ($360 profit per standard lot, in 2 hours), closing position