Trade 2 Long CADJPY (-20 pips)
Buy the yen pairs that was th ethemes of last month and the first two trades this month follow it. I wanted to take the GBPJPY but th evolatility and margin requirements of that pair put me off. The cadjpy had good technicals breaking out of a strong channel and it has some merit on the daily as it may well have made a long term bottom and be heading considerbly higher. This is just a day trade so not wishing to play the longer time frame.
Trade 1 Long USDJPY (+35 pips)
Yesterday was a great day with a 100% hit rate, a great way to end the month. First trade of a new month follows my prediction for USDJPY strength, I am not sure if a new low is needed before the upturn begins however this trade follows a clear technical break of trendline and on balance is worth the risk. USDJPY is an unusual pair as it can spend long periods consoldating with a small daily range, then when it gets going it really motors, this is good as well asbad as it can motor to the stop as easily as the target. Stop loss is quite tight just allowingfor a retest of the trendline and ichimoku cloud
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