UPDATE – USDJPY 6/4/2010

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  • 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…….
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