Thursday, July 23, 2009

From Bad to Good, The Yen is my Friend

So we got into the Usdjpy yesterday afternoon on the 4hr cross, and it did nothing for about 12 hrs. Then if finally got jump started and we are now up 70 pips as I am writing this now.

So what is my game plan for the rest of the week? Well, Im still in the Eurusd with 2 investment entries and they are up. One entries is up 220 pips and the other 70 pips. We had a day trend wall break out a few days ago, so Im hoping it keeps climbing. I have many of those pips locked it as new supports are being created, so I will just keep moving it as we continue to see a bull move on the Eur. It could turn any day now as wee see the Day ROI is failing, so I will let the market stop me out whenever it does.

As far as the JPY is concerned, I closed half my entry with about 50 pips profit and I moved even on my challenge account. I am hoping that with this entry we are jumping the week cross that will happen next week. I have a target of 95.90 area for the JPY so lets hope we get there before the market closes tomorrow. My medium target is 97.30 and long term is 102.60.

Lets see what happens. I don't think I will add and new entries, Im just going to let what I have cook. Im locked in with profits so all my entries are "Don't Care" trades.

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