Monday, May 25, 2009

May Trade # 11 - BUY USD/JPY

May 25, 2009 1:20 pm

After 15 mins, +11 pips/lot for a total of +22 pips.

Wonderful!

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May 25, 2009 1:05 pm

BUY USD/JPY @ 95.03
STOP – 94.73
Limit 1 – 95.33
Limit 2 – 96.63

Saw a bounce on the hourly charts. I see a bit of a strong momentum for this pair to go up. I don't expect to stay long.

After the dollar weakening last week, it appears that this pair has had enough and is poised for an upward out break. being cautious though as news just came out that North korea just tested a nuclear weapon.

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