Thursday, 23 April 2009

NZD/JPY

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

4 comments:

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.