Boris and Kathy's FX Blog www.bktraderfx.com
11/14/2006
Today's Email Alerts:
Alert # 3 Take T2 on USD/JPY Now
US numbers this morning were very weak and point to the possibility of an early 2007 rate cut. As we expected, USD/JPY has collapsed on the number. The knee jerk reaction is currently finding support above our second target. Given no more meaningful data left today (business inventories are not very market moving), we could see a bounce from here.
Therefore we are not going to be greedy and we will be taking profit on our second lot here at 117.32, for a gain of 50 pips on the second lot, totaling a profit of 67 pips on the entire trade.
Alert # 2 Take T1 Now
We are off to CNBC and cant monitor the trade through the event risk to take T1 now ar market (117.65) for +17 and move stop to break even.
Alert # 1 Short USD/JPY
Japanese GDP printed much stronger than expected at 2.0% vs. 1.0% putting the possibility of a December rate hike by the BoJ back on the table. Meanwhile US data (retail sales and PPI) is predicted to be weak tomorrow. We think USD/JPY may see further weakness as the day progresses, so we are looking to short USD/JPY here (117.82) Stop is 118.15
First target is 117.62, once that is reached, move your stop to breakeven on the second lot. Target 117.23 for the second lot.
Alert # 3 Take T2 on USD/JPY Now
US numbers this morning were very weak and point to the possibility of an early 2007 rate cut. As we expected, USD/JPY has collapsed on the number. The knee jerk reaction is currently finding support above our second target. Given no more meaningful data left today (business inventories are not very market moving), we could see a bounce from here.
Therefore we are not going to be greedy and we will be taking profit on our second lot here at 117.32, for a gain of 50 pips on the second lot, totaling a profit of 67 pips on the entire trade.
Alert # 2 Take T1 Now
We are off to CNBC and cant monitor the trade through the event risk to take T1 now ar market (117.65) for +17 and move stop to break even.
Alert # 1 Short USD/JPY
Japanese GDP printed much stronger than expected at 2.0% vs. 1.0% putting the possibility of a December rate hike by the BoJ back on the table. Meanwhile US data (retail sales and PPI) is predicted to be weak tomorrow. We think USD/JPY may see further weakness as the day progresses, so we are looking to short USD/JPY here (117.82) Stop is 118.15
First target is 117.62, once that is reached, move your stop to breakeven on the second lot. Target 117.23 for the second lot.
posted by BKTrader # 11/14/2006 05:41:00 PM 
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