Boris and Kathy's FX Blog www.bktraderfx.com
10/02/2006
Today's Email Alerts
Alert # 2 - Moving Stop in CAD/JPY
On Friday, we recommended a CAD/JPY short at market which was approximately 105.80. The trade is moving in our favor and we want to move our stop to breakeven on both of the lots at the moment. This makes sure that this trade never becomes a loser.
We are still aiming for a first target of 105.18 and then a second target of 104.45.
Alert # 1 - USD/JPY Double Top
USD/JPY is forming a double top and we are really liking it on the short side. The potential for further weakness can be seen on multiple timeframes. The double top can be seen on the daily. Also check out the 4 hour charts. There is a major break in trend with MACD pointing to the downside. Fundamentals also support a turn in the yen with a stronger Tankan report. Risk is small at this point.
We recommend shorting USD/JPY at market (currently 117.75), with a stop at 118.30. Our first target is 117.28, second target is 116.30. When the first target is hit, move stop to breakeven on second lot.
As for our CADJPY positioning, we are 35 pips in the money. We still like it and are holding on tight
Alert # 2 - Moving Stop in CAD/JPY
On Friday, we recommended a CAD/JPY short at market which was approximately 105.80. The trade is moving in our favor and we want to move our stop to breakeven on both of the lots at the moment. This makes sure that this trade never becomes a loser.
We are still aiming for a first target of 105.18 and then a second target of 104.45.
Alert # 1 - USD/JPY Double Top
USD/JPY is forming a double top and we are really liking it on the short side. The potential for further weakness can be seen on multiple timeframes. The double top can be seen on the daily. Also check out the 4 hour charts. There is a major break in trend with MACD pointing to the downside. Fundamentals also support a turn in the yen with a stronger Tankan report. Risk is small at this point.
We recommend shorting USD/JPY at market (currently 117.75), with a stop at 118.30. Our first target is 117.28, second target is 116.30. When the first target is hit, move stop to breakeven on second lot.
As for our CADJPY positioning, we are 35 pips in the money. We still like it and are holding on tight
posted by BKTrader # 10/02/2006 05:42:00 PM 
Archives
09/2006 10/2006 11/2006 12/2006 01/2007 02/2007 03/2007 04/2007 05/2007 06/2007 07/2007 08/2007 09/2007
