Wednesday, November 12, 2008

Forex - Money Moves Into The Yen




The rally in the Japanese Yen that I was looking for 2 weeks ago seems to be underway however I did not buy this currency. There was one day about 6 days ago where the Yen dipped below the 20 day moving average which made me think twice about buying this currency. Looks like I messed this trade up.

2 comments:

trading said...

Kevin,

What do you think about today's knife hook reversal off the lows? I feel as though we needed to shake everyone down today and that just didn't happen even though we broke the 2008 lows. I believe the Yen carry trade has played a key role in today's unwind.

Thanks,

Brian

Kevin said...

Hi Brian,

I agree with about the yen carry trade. As of right now I have no position in the market and today's price action just proves my point that it's like flipping coins guessing which way this market will go. I'll sit tight until I see a low risk trading opportunity.

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