Looks like the Yen is going to have another fun year of trading surprises..... http://www.forexlive.com/90991/all/japan-getting-ready-to-increase-its-intervention-war-chest
current position: BOT 100,000 USD USD.JPY Cash 92.911 JPY IDEAL MAR 25 13:49:34 target: 90.655 over next 2 weeks has been consolidating over last few trading days, its gonna breakup or down, i'm betting down
posted wrong trade, im short from 92.651 SLD 100,000 USD USD.JPY Cash 92.651 JPY IDEALPRO MAR 25 19:08:56
Just a little reminder for all the USD/JPY shorts out there this is an example of costly mistake when you dont exit your position and let a stop loss work....This is what I woke up to this morning, VIZ. 3/29/2010 10:48:38 PM 65417580 Sell USD/JPY -400,000.00 92.300 3/30/2010 2:37:02 AM 65425825 Buy USD/JPY 400,000.00 92.6 3/30/2010 2:37:02 AM Total: -1,295.90 Got some back today shorting the EUR/USD and going long GBP/JPY but still not something I wanted to see. Good thing Im only 20.
Took some heat on market going lower and then much higher and still expecting downward bias to engage. Note I didn't say trend, although that's what I'd like to see obviously.