July Trade # 1 - BUY USD/JPY

July 1, 2009 9:14 am (Manila)

Second half is out at +40 pips/lot for a total of 120 pips.

Trade Summary:

1st Half: + 90 pips
2nd Half: +120 pips

Total: +210 pips

Fantastic trade # 1 for July!!!

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July 1, 2009 9:08 am (Manila)

First half is out at +30 pips/lot for a total of +90 pips.

Second half is now risk-free with stops moved to breakeven.

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July 1, 2009 7:55 am (Manila)

BUY USD/JPY @ 96.31 (6 lots)
Stop - 95.79
Limit 1 - 96.61
Limit 2 - 96.80

Fundamental Reason: At about 7:50 am today (Manila), Japanese Tankan Manufacturing and Non-Manufacturing Indices printed with disappointing figures. This should be bearish for the Yen.

Manufacturing plays a critical role in the Japanese economy. The Tankan Manufacturing Index is considered the best gauge of the industry's health due to its large sample size and a well-respected source.

This survey is leading indicator of economic health. Changes in sentiment in the industry can be an early signal of future economic activity such as spending, hiring, and investment. This should impact currencies.

The survey came out better than previous numbers (which hot rock-bottom last quarter) but not as good as expected. This might temper any hopes that the Japanese economy is on it's way to a full-blown recovery and weigh-in on the Yen.