USD/JPY Slowly But Surely Heading North
UJ has been in a nice uptrend for some time; although this is a weak bearish t/k crossover, price is slowly returning. I'm looking to take profit to the cloud, reset the SL, and watch for the breakthrough or rejection.
* Update on UJ; the trade was working out exactly as predicted and it was up 22 pips from posting...until...the Japanese made an unannounced BOJ rate change. Once that happened, the UJ took a nose dive. I sincerely hope anyone who followed this idea used a sensible stop loss; mine kicked in around -48 pips.
To say I wasn't too happy about what happened would be an understatement.
* Update on UJ; the trade was working out exactly as predicted and it was up 22 pips from posting...until...the Japanese made an unannounced BOJ rate change. Once that happened, the UJ took a nose dive. I sincerely hope anyone who followed this idea used a sensible stop loss; mine kicked in around -48 pips.
To say I wasn't too happy about what happened would be an understatement.
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