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Tag Archives: JPY
Paper trade: Closed all CADJPY long @ 88.40 for +152 pips
CAD/JPY reached my target of 88.00 last Friday. It broke through 88.00 nicely and tested 88.50 on Tokyo open just now. I decided to book my profit in the demo account on this CAD/JPY long position entered at 86.88 and 87.87. See Figure 1 for the 3-hour chart with the entries and exits marked. Click [...]
Paper trade: Long CADJPY @ 86.88, Stop 86.10, Target 88.0
I entered CADJPY long at market for 86.88 just now. This is a continuation of my previous USDCAD short position. However, USDJPY is on a run upward so I’m switching to go long on the loonie with yen instead. Figure 1 shows the daily chart of CADJPY. Notice the imminent MACD bullish crossover and the [...]
Paper trade: GBPJPY @ 145.24, Stop 144.70, Target 148
Update: I’ve switched over to long EURJPY @ 125.40 as EURGBP’s downtrend seem to be running out of steam. Moreover, EURJPY looks better on the daily chart with a clear support and an oversold reading. I’m back in my long GBPJPY play at 145.24. The currency pair is breaking an hourly resistance since consolidating around [...]
Paper trade: Closed GBPJPY @ 146.42 for +140 pips
Just closed my GBPJPY long at 146.42 for around +140 pips average gain, or 0.4% in the account balance. Damn good for a 24 hours holding. Obama just finished his State of The Union address at the moment. I am not impressed. Still all talk of change but nothing concrete yet. Anyway, that’s beside the [...]
Paper Trade: Long GBPJPY @ 144.24, Stop 143.60, Target 148
My previous short-side setup on GBP/JPY played out beautifully. Yet I wasn’t able to ride it down because I got stopped out on a stop-hunt counter-move before the dive, see Fig. 1. Now that GBP/JPY has reached its other end. I am betting for it to go reverse with a long position. I expect this [...]
Paper trade: Short GBPJPY @ 146.32, Target 143
GBP/JPY finally broke below an intermediate term wedge pattern formed from Dec 30. See Figure 1 for the daily chart. I am noticeably late in this GBP/JPY short entry because I was preoccupied with other positions (e.g. my EUR/CHF and GBPCHF shorts) today. Click here to continue reading... (301 words)
Why I shorted CAD/JPY @ 88.57 instead of long USD/CAD @ 1.0251
CAD/JPY failed a major resistance level at 90 and has edged out an obvious intermediate-term downtrend (Fig 1). USD/CAD is also bouncing off a major support at 1.0200 (Fig. 2). And crude oil is below $80 on a slippery slope. As such, shorting loonie seems like a good move at the moment according to my [...]
Posted in Aussie, Kiwi, Loonie, Trading Strategy Also tagged CAD, entry, FTC, paper trade, USD Leave a comment
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
Lucky exit for CAD/JPY long yesterday, downtrend resumes now?