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Missed it by an Inch…

Posted on May 27, 2009 at 7:54 in Trading Desk by Ryan O'Keefe

Having missed my short orders by just a few pips overnight I’ve decided to pull the orders off the desk. USD/JPY has support on the Daily chart around $94 / $93.50 which I failed to notice last night. I’m thinking this pair may be headed a tad higher after all, perhaps the sell is closer to $96. Either way since I’m not 60 pips in the money this morning I’ve decided to sit this out for now.

Stay tuned…

2 Responses to “Missed it by an Inch…”

on 27 May 2009 at 7:08 pm1Christian

Hi Ryan,

Excellent decision. The pair is at 95.80 as I write. Short might be workable from here. As of me, I don’t trade this pair right now. I don’t see a good risk/reward to play what I perceive to be a weak currency against a tad weaker one… Just a thought.

Best,
C.
on 27 May 2009 at 9:01 pm2Ryan O'Keefe

Hey Christian,

Yeah waiting a bit offered up a slightly better entry. I took a small short at $95.90 to test the water on this. You’re point about two weak pairs is a good one. For some reason I’m a sucker for this pair.

Appreciate the comment!

Ryan

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