Tag Archive: USD/JPY

Long the YEN

I posted about this trade here: http://ibankcoin.com/xtrada/2013/01/02/happy-new-year-and-going-long-the-yen/

Basically it reached the target I set in November 2012 so I thinking we’ll get a pullback. It’s very risky since the YEN looks like it’ll fall forever.

Bought some FXY Feb 115 Calls:


It feels a bit early so I’m willing to buy additional calls down to the low $111 level in FXY.


USD/JPY – Entering the second phase

The Yen has collapsed (against the US dollar) and busted through my 1st target at $80.50 area which now becomes support. The move was pretty powerful so we can expect more if it holds. All we need is some consolidation above that level for the big move to the 2nd target area at the $86.50 level.  If we get a nice consolidation for a few days then Christmas may come early this year.