Brian Twomey
Brian's Investment
If USD/JPY was part of the weekly 19 currency pair trade line up, then its place would sit last along with EUR/USD and alongside CAD/CHF. At least for this week due to the positions of USD/JPY and EUR/USD.
Top ranking earns the distinction to easy trade, many pips and no worries. A horrible position currency and not clear to entries and targets earns last place as the struggle for the trade isn't worth the effort. Many more currencies exist.
Both USD/JPY and EUR/USD trades posted yesterday performed perfectly yet what was required was EUR/USD 1.1444, DXY 95.06 and USD/JPY 113.90 to resolve itself. This resolution took 1 day. To embark on the trade Sunday or Monday without settlement is to roll-the-dice gamble.
As our many, many years of writings on fxstreet demonstrated, we don't gamble nor speculate. But we also don't use faulty charts, indicators, stops nor concerned with the latest market talk to central banks, interest rate changes and economics. All this is irrelevant to the price. Our only concern is entry, exit and maximum profits.
USD/JPY
The trade. Short 115.10 and 115.18 to target 114.54. Long 114.54 to target 114.81.
The results. 115.06 to 114.51 or +55 pips. Long 114.54 to 114.81 or +32 pips. Total 2 trades, +87 pips.
USD/JPY weekly Range 114.11 to 115.06 or 93 pips. We profit 87 of 93.
EUR/USD
The trade. EUR/USD on a break at 1.1388 targets 1.1331. Long 1.1331 to target 1.1359.
The Results. 1.1388 to 1.1326 or +62 pips. Long 1.1331 to 1.1359 or +3 pips. Ongoing trade.
EUR/USD +USD/JPY total +152 pips.
Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.
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