USDJPY 11-30-06

11-30-06

USDJPY

The short trade was finally entered at 1.1650 and the first target was reached at 1.1610. Let's move the stop loss on the other two contracts to 1.1630. This should be safe in case the USDJPY tries to rally past 1.1620. If it does rally past 1.1620, it will try to absorb the supply at 1.1650 again. If the area of supply at 1.1620 turns the USDJPY lower, take a profit at 1.1578 and move the stop loss to 1.1610 on the last contract.