Boris and Kathy's FX Blog www.bktraderfx.com
10/12/2006
Today's Email Alerts:
Alert #2 The Time Has Come For USD/JPY
As we said in our morning email, USD/JPY is turning! This is a low risk play for a real turn. Tonight's BoJ Monthly Report and comments from Fukui could help drive further weakness in the currency pair. We expect the central bank to acknowledge the benefits that the slide in yen will bring to the export sector and the economy in general. Also, we have not forgotten that the Eco Watchers "man on the street," udon noodle selling vendor is more optimistic than the previous month - a good sign that the economy is indeed turning.
We are selling USD/JPY here at 119.42 with a stop at 119.80. First target is 119.12, if that is reached, move your stop to breakeven on the second lot. Second target is 118.25.
*** Also, we are looking for successful traders for our new book. It's a Market Wizards for the little guy. You need to have a 2 year profitable track record and a minimum of a six figure account. We are interested in human stories, all correspondence will be confidential. This is not just for FX traders, all markets (Futures, Options, Equities). If you are interested or know someone who qualifies, please email us at bktrader@gmail.com
Alert #1 Trade Deficit and USD/JPY
Pretty bad trade deficit number today. We'll need to see if next week's TIC number matches up. Market thinks that the stock rally could have drawn an increase in net foreign purchases - we'll have to see.
We have a few pairs that are turning with low risk (swing high), worth a look. Shorts EUR/CHF, USD/JPY, EUR/JPY Long AUD/NZD
Alert #2 The Time Has Come For USD/JPY
As we said in our morning email, USD/JPY is turning! This is a low risk play for a real turn. Tonight's BoJ Monthly Report and comments from Fukui could help drive further weakness in the currency pair. We expect the central bank to acknowledge the benefits that the slide in yen will bring to the export sector and the economy in general. Also, we have not forgotten that the Eco Watchers "man on the street," udon noodle selling vendor is more optimistic than the previous month - a good sign that the economy is indeed turning.
We are selling USD/JPY here at 119.42 with a stop at 119.80. First target is 119.12, if that is reached, move your stop to breakeven on the second lot. Second target is 118.25.
*** Also, we are looking for successful traders for our new book. It's a Market Wizards for the little guy. You need to have a 2 year profitable track record and a minimum of a six figure account. We are interested in human stories, all correspondence will be confidential. This is not just for FX traders, all markets (Futures, Options, Equities). If you are interested or know someone who qualifies, please email us at bktrader@gmail.com
Alert #1 Trade Deficit and USD/JPY
Pretty bad trade deficit number today. We'll need to see if next week's TIC number matches up. Market thinks that the stock rally could have drawn an increase in net foreign purchases - we'll have to see.
We have a few pairs that are turning with low risk (swing high), worth a look. Shorts EUR/CHF, USD/JPY, EUR/JPY Long AUD/NZD
posted by BKTrader # 10/12/2006 07:00:00 PM 
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