Potential breakout on the USD/JPY

[xelite777]

Quote from xelite777:

EUR/NZD is almost near my buying point (1.6780), come on boy, keep moving down, you are almost there, kitty kitty kitty...

Long EUR/NZD at 1.6780

Now get up there boy and show me the money!

 

[xelite777]

Quote from xelite777:

Long EUR/NZD at 1.6780

Stopped at 1.6750 (minus 30 pips). Possible long re-entry later if the trade is still valid.

Never argue with the market.

 

[Ironplates]

are there buyers coming in?

 

[xelite777]

Quote from Ironplates:

are there buyers coming in?

Well, I hope so!

Here is the situation: the breakout on the EUR/NZD was good for over 250 pips, but unfortunately I did not initiate a trade immediately, I wanted to buy on the pullback at 1.6780 but was stopped 30 pips later.

Now the EUR/NZD has touched the support line, if it bounces back I will consider going long again. This time the profit potential could be quite substantial!

So let's wait and see...

 

[Ironplates]

oil may help to add something to the story.

now if oil goes up, which way does the 6J like to go?

 

[xelite777]

Quote from Ironplates:

oil may help to add something to the story.

I doubt it.

The CAD/JPY is highly correlated to oil, however.

Quote from Ironplates:
now if oil goes up, which way does the 6J like to go?

Quite frankly I do not have a clue, I do not trade with fundamentals.

 

[xelite777]

Long GBP/AUD at 1.8460

 

[xelite777]

Quote from xelite777:

Long GBP/AUD at 1.8460

+40 pips ($360 profit per standard lot, in 2 hours), closing position