CashMoney....Yea this damn YEN market has been brutal these past few days. We'll get a major reversal signal then we'll just fly the other way without looking back. ---------------------FYI: 3/12/2008 11:22:58PM DOLLAR-YEN: The greenback continues to slide against the yen in Asian trade falling over 1% on the day to the low at Y100.65 - the lowest levels since 1995. Traders say intraday spec names seem to be prepared to test the Y100 level although option barriers are offering a little support. 3/12/2008 11:58:04PM DOLLAR-YEN: The pair has bounced smartly off the session lows but still trades well south of the 101.00 level. Traders said intraday profit-taking has helped the pair bounce with the hourlys having looked oversold. Comments from Japanese FinMin Nukaga seen as very low-level jawboning and not really fuelling any great scramble to cover shorts. Pair last traded Y100.60/62.
Bought the U/J at 100 but it may come down for a double bottom or a bit lower so some profits off above 100.20 and rest left in case the reversal has happened, target 101.00
-260 If weekly closes as it is now, then I will not trade this from long side until monthly chart changes modes, that can take months.
got stopped out. I should have sold when 101.4 broke.. i ignored my instinct..on top of that i didnt place a stop on the trade cuz i couldnt find a decent support level
Changing my view on JPY in short term; put a short JPY (long USD/JPY) just to test water; I made a decent gain on Long YEN (short USD/JPY) side. Good luck