New trades today

Aussie has taken a bit of a hammering o/n and suggest that this make continue. Went short aussie this morning at 7412. Long usd/jpy which I renetered yesterday @ 10893 is looking good with the yen flying over 110 - stop now on 940.

Objective on aussie is 7225 while looking for 114 on yen as noted earlier. Good luck to all but has been a cracking start to the day and may both luck and skill be with us.

USD/JPY

Well we didnt quiet make 110 and now down a tad under 109 but I believe in this puppy so just placed another long at 108.93. Will use a fairly large stop because when this think runs again I can see my 114 objective being hit.

Because of the wide stop remember to think about your leverage and capital management plan. If all works out will scale in later. There is some resistance with USD index around 100 but in my view thats will only be temporary. When US raise rates again then north we shall go.

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USD/JPY

Well direction we were after and direction we got. USD has been on a runner since trump got in and pretty much everyone is jumping in on the trade given the hawkish stance of not just Trump but those that matter like the FOMC members. Doesnt hurt when retail numbers support so I will be looking to the utterances of Yellen and friends to see where going this year but lets face it we have been waiting all year and members like Fischer have been chomping at the bit. Think would be a fitting end to the year.

Wheres the hawk right now - well i went long at 108.33 and now have stop placed at 108.83 Pair is currently trading well over 109. Will be cautious around 111.07 if we slice thru 110 but objective is 114. 110 might be a hurdle but think there is to much momentum right now and should be a blip on the radar to travelling North.

Who Got Trumped

Well I thought Clinton was a sure thing. But the anti establishment feeling is just to strong and the master now becomes the Apprentice. Apprentice President that is. But the point I want to highlight today is how geopolitical events can swing the markets and currencies. Take a look at the USD/JPY movement yesterday and that is all you need to demonstrate the risk in currency trading. The good thing is volatile movements like that remind you of the importance of capital management and the proper use of leverage or when things are going crazy to just stay out and watch from the sidelines. I know I  did, and now when we get some direction it is time to get back in on a cautious basis.