Update of USD/JPY Long-Term Trade

June 10, 2009 6:15 am (Manila)

Trade is out at +165, +190 and +130 for the three sets of lots. Pair took a downward turn last night and appeared to be heading lower.

Total of +615 pips for this half:

Summary for this LT Trade:

1st Half: +786 pips
2nd Half: +615 pips

Total: +1,401 pips

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June 8, 2009 2:50 pm (Manila)

Bumping this to the top of the page.

The pair has been in retracement mode all day. The three sets I have are currently doing +210, +235 and +175.

Moving all stops to breakeven. All trades are now RISK-FREE!

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June 6, 2009 2:29 pm (Manila)

While I was sound asleep last night, US Non-Farm Payrolls surprised the market - coming out significantly less negative than expected.As a result, the dollar rallied across the board, including against the Yen.

1st Limits of my three sets were all ht last night @ +227, +211 and +174 (+348 for 2 lots of third set), respectively.

All in all, the first halves gave me a total of +786 pips. What a wonderful way to end the week!======================================================

June 5, 2009 6:00 pm (Manila)

This trade is doing pretty well and I am convinced of continued upward movement ahead of the US Non-Farm Payrolls announcement.I sent in a third set of LONGs. This is even bigger than the first two as each halves contain 2 lots each.

Details as follows:

BUY USD/JPY @ 96.76
STOP - 93.00
Limit 1 - 98.50 (+174)
Limit 2 - 101.00 (+424)

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June 5, 2009 3:30 pm (Manila)

Three days into this long-term trade and it finally broke through into positive territory, currently up +50 pips.

Yesterday, I reigned-in another set of LONGs for this pair and that set is currently doing +20 pips.

Details of 2nd set:

BUY USD/JPY @ 96.39
STOP - 93.00
Limit 1 - 98.50 (+211)
Limit 2 - 101.00 (+461)

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June 2, 2009 3:11 pm (Manila)

BUY USD/JPY @ 96.23
STOP - 93.00
Limit 1 - 98.50 (+227)
Limit 2 - 101.00 (+477)

A flurry of good economic news coming out of Japan. With this, investors should seek better yields from other, higher-yielding, riskier assets (such as currencies with higher interest rates).The pair bounced on the weeky chart which gave me the signal to entr into this long-term trade.