UPDATE – USDJPY 6/4/2010


USDJPY Long @ 92.20……..Based on our previous posts we are long 2 units of USDJPY at 92.20 looking to sell 1 unit at 93.30 and holding the 2nd unit.  At this point with NFP’s coming tomorrow at 8:30AM EST I must go the conservative route and just sell 1 unit here at 92.80 for 60 pips profit.  While the trade is looking good and could be forming a Long Term bullish scenario this will cut my risk just in case There is NFP flash crash that gives me no mercy.  Ideally I still want to see us hold the bottom of the cloud….More preferably 91.60 which is the future bottom of the 120 cloud going into next week.  Then we could potentially go LT bullish.  Until tomorrow…….
For EDUCATIONAL USE. Commodity Futures Trading Comission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose

About the Author David Terk