Hello Everyone, Its yet another day full of opportunities. I am looking at Dollar Yen now and It has breached past 115 level on the second attempt. I had previously yesterday recommended a sell around 114.95 and had informed a break of 115 in single attempt looks weak possibility and Yes price after testing our resistance area moved back giving a perfect opportunity for a small quick trade. The details of yesterday's trade in this pair can be seen here.
Today We can see a next resistance at 115.45 to 115.65 area. I think a sell between these levels is advisable.
Trade - USDJPY Short Sell - Limit Order
Price - 115.45 to 115.65
Stop - 116.1
Target - 114.95 l 114.6 l 114.3
If the trade gets executed I shall update on the progress..
GMT - 1:12pm
The Limit order to sell the pair was triggered a few hours ago as we had a high above 115.50 in the pair.Since then the pair had moved down by 20 pips and as of now is down and trading at 115.40 level wherein the trade is in the money with 10 pips profit.As we have the crucial employment data (NFP) coming up in next 18 odd minutes and I advise exiting the trade with a minimal profit of 10 odd pips in this pair as right now.The trade is closed as NFP is approaching.
We did the same in the GBPUSD buy trade which was running along with this trade. So we have 2 trades closed with 20 odd pips in profit. The details of GBPUSD trade can be found here
Fayaz Sadik Sait
Trading in financial instruments is not for the weak hearted , Trading these instruments involves high level of risk and losses can exceed capital (depending on your FX Broker).My advises should be used as a medium to learn and not as a medium to get RICH.I dont have any formula for anyone to get RICH. I shall share no responsibility for anyone's profit or losses.Once again Trading is not for everyone.