In the red on our long-Yen position really for the first time since we initiated this ... selloff today just doesn't jibe with Yen's seasonal tendencies. If we don't get a sharp bounce below 117 w/in the next ~36 hours we'll likely shoot our stalking horse and move on. The meat of this move would come once the Sep Yen futures contract expires later this month, but action this week should already demostrate an itch on the long side. Stay tuned ...
Bailed on our long Yen position near 117.80. Yen shouldn't be so weak based purely on seasonal pattern - perhaps the interest rate differential is driving weakness. Regardless, we are out. Our aim here is to identify significant moves early, but that requires that we get off when things don't go our way. We'll identify and log our next seasonal-based trade in the days ahead.