Firstly, if you are wondering what happened to the Short USDJPY, and Long USDCAD positions? They were all winners with profit targets hit. I am kinda lazy to post another charts to show off today. Maybe I should do that to attract some traffics. 😆

Guess what, USDJPY’s rebound at the end of last week might just provide me another chance to establish short position again next week. Let’s see. I am a little bit negative biased towards Dollar next week.

I was on a road trip with a group of friends to Mornington Peninsula, Australia. The day started with strong wind, hail, and really bad weather forecast in Melbourne. But, there was totally another world at mornington. Nice sunny, comfortable day. Man, it is always good to be away from city.

Jay at The lonely trader posted an interesting conversation with a full time trader. Good read. But, as usual, don’t start debating with Jay if you have a weak heart. 😆

I am off to enjoy my Sunday morning. Man, I think I love Melbourne.

OK, I established  short position of USDJPY. I don’t have energy to write up a full analysis. Basically, my strategy calls it a short, so I go short. Let’s see how it works out.

Here is the statistics

[photopress:usdjpy_trend.jpg,full,1]

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and here is the …..CHART!

[photopress:usdjpy.gif,full,1]

Firstly, I don’t trade this pair. I have some negative biased views for both Dollar as well as Yen. I use this pair for analysis purposes. Alright, enough of nagging. I see weakness in Yen (that’s one of the reasons I am long AUDJPY now).

In the , what I call, a ‘short sighted’ view, USDJPY is trying to run up the 111-ish level. Let’s see how it works out.

Here is the….CHART!

[photopress:usdjpy06jul2008.gif,full,1]

And here are some statistics. ‘Short sighted’ view, we are in Uptrend. 🙂

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By Trader Gav