Currency market: USD/JPY weekly and day trade

Brian Twomey Brian's Investment

USD/JPY's first leg of the weekly trade completed Monday for +92 pips and 14 week total at +1830 pips. The 2nd leg is in progress and here's the trade as posted Monday.

USD/JPY long 114.77 and 114.64 to target 115.34. Results: Low 114.70 and highs 115.17 and +47 pips and running.

An alternative trade existed to long 114.91 or 114.85 to target 115.30. Highs achieved 115.28. Trade ran either +39 pips from 91 or 43 pips from 85.

Note the first trade short 115.82 and 115.95 to target 114.91. Lows achieved 114.85. Highs achieved 115.77 and 5 pips miss. Lows achieved 114.85 and 6 pips off target. The 5 pips at the top had to compensate for at least 5 pips at the bottom target.

USD/JPY's yesterday day trade and 4 vital numbers: 114.51, 114.79, 115.37 and 115.66.

Results Actual: 115.11 - 114.70. See 114.79 - 115.37 ? Yesterday's 114.70 coincided to the 2nd leg trade at 114.77 and 114.64 and 1/2 the range at 114.71.

Today's 4 numbers 114.51, 114.79, 115.37 and 115.66. Yesterday 114.51, 114.79, 115.37, 115.66.

Today's day trade is the exact same trade as yesterday. In the last 24 hours, USD/JPY traded 114.70 to current 115.21 or 51 pips. Note our profit for the 2nd leg trade +39 and +43 pips. We missed 11 and 7 pips from the total 51 yet profit was near 100% of the trade range.

Author

Brian Twomey

Brian's Investment

Brian Twomey is an independent trader and a prolific writer on trading, having authored over sixty articles in Technical Analysis of Stocks & Commodities and Investopedia.

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