USDJPY update - 08 09 16

Stop Losses now set to Breakeven.

A no loss trade.  Lets see if this now makes it down to the 100 level

New trade - Short USD/JPY (05-Sep-2016)

Trade 1 of this blog will be a position I have taken today, short the USDJPY. I want to see how my experiment performs. 

I entered this position last night:

Price: 103.84
Stop Loss: 105.44
Target: 99.53

The trade is currently 65 pips to the good, but of course - that could change!

Let's update this in a few weeks.

1. The fundamental signal was weak Non Farm Payroll figures out of the USA on Friday  2nd September
2. The technical signal is this daily declining trendline which has emerged on this pair - will it hold?

 3. Oanda and Dukascopy clients are overwhelmingly LONG the USDJPY, which for me, is enough to convince me to go short.