Thursday, 23 April 2009


Bought another 1m NZD sold Yen at 54.50 thus making position long 2m NZD short JPY at an average of 56.10.

Review levels 53.00 and 60.00


peterquixote said...

with me dude, to buy and sell yen after is too late takes about six weeks to get past the banker system,
set up foreign currency accounts,

I look at the market and it gets silly,
I'm back to banking on NZ, I think it will get better,
I think our currency will rise from here on partly because of good conservative government.

The Lonely Trader said...

Peter I completely agree...just looking for a good level to get back in now.

Forex Day Trading said...

On daily chart, nzd/jpy formed a head-shoulders pattern. What if the market make a breakdown through the neck line? Seems a little early to make the long commitment.

Kiwi Trader said...

All good points. I have frozen the trade for now, and will watch how low we drop, and look to reopen in the low 50.00 area if we see it.