Sold my Euro/Yen long position for a loss...and never got in to the US/JPY position. Yen is showing some strength across the board, even though it seems that all the currencies are showing some intermediate strength against it. I could have held my Euro, but, it would have gone from a short trade to a longer one, and it wasn't worth holding.
It looks like the equity markets are still showing strength, which is why I took a contrarian trade and shorted the Canadian Dollar against the Yen. There is no way I can see the Yen continually getting killed without a little breather...(and I also got a significant short term signal to do it as well.)
Are These Stocks Naughty or Nice?
6 years ago
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