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Tag Archives: yen

At about 7pm on Friday, August 12th, I saw the yen starting to fall from its peak of 102.23, my gut feel was telling me that this is a window I had missed a few days back when I thought it would go higher than 102.

So I decided to square off my cash position at 102.10 against my entry of 100.80, it was a nice trading profit of 1.3 yen.

The appropriate and relevant price chart to look at is the 4 hour chart; it shows a high of 103.52 on 12 May and a low of 92.56 on 12 April.  Moving averages has broken through the declining cloud though fast and slow stochastic is showing a downtrend tendency.

usdjpy_4 hourly chart_21 June 2013

The 15 minute chart shows the yen trading in a short term band of between 96.21 and 98.25, about 2 big figure spread.  Good opportunity to make quick profitable trades within the band.

I will shortly share some short term trade strategies with you.