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#12 (permalink)

06-13-2007, 07:28 AM

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Quote:

Originally Posted by Antonio Sousa

The Bank of Japan is expected to keep rates unchanged and the USD/JPY seems poised to test the January 29 high at 122.17.

Go Long @ 121.80 limit
Profit Target @ 122.17
Stop @ 120.95

I think this is a high probability setup and I'm ready to trade it with a decent position size. However, things can easily go wrong. Let me know what could possible deny this trading setup. A break below 121.50? Carry Unwind? BoJ rate hike?

That was a nice trade idea driven by the fundamental factors in play. Basically you assumed that upside momentum would continue and it has.

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