USDJPY 4-10-07

4-10-07

USDJPY

There were two trades in the USDJPY since Sunday. The first trade was the short trade that was open from Sunday that was closed at 1.1938 with a 10 pip stop loss. The highest price that the USDJPY traded at since Sunday was 1.1938 before the USDJPY sold off to the 1.1900 first target and the 1.1886 area where the trade was to be closed. It happens when a tight stop loss is used. A long trade entered at 1.1880 and was nearly closed with a 10 pip stop loss when the USDJPY spiked down to a low of 1.1874. I plan to take a partial profit at 1.1920 and move my stop to 1.1893 on the rest of the position.