Wednesday 11 February 2015




USD/JPY broke above the downtrend line of the supposed triangle it had been forming
in the past few weeks. I was expecting it would make one final movement to the downside before the break out, but apparently I was wrong. I should have heeded those two doji candlesticks in the weekly filter chart, they were a clear indication that the pair was about to start climbing again. All is well when it ends well, however, because I opened new long positions the moment I saw the break out. I think the next target is around 124, perhaps 125, and depending on the circumstances I might not close those positions before the pair reaches said target.

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