Selling USDJPY on Tuesday July 26, 2016 Works Great!

By July 26, 2016Uncategorized

SETUP: The press put a damper on the USDJPY bullish trend starting on Sunday. What spoiled the USDJPY buying party was an article indicating that several of the Bank of Japan (BOJ – Central Bank of Japan) officials did not think more monetary easing was necessary (monetary easing weakens the JPY and causes the USDJPY pair to trade higher).

TRADE: On Monday bought Binary put options (bets that the USDJPY pair would close lower on Tuesday).

RESULT: Win at better than 10 to 1 risk reward

CHART:USDJPY

 

 

 

 

 

 

 

 

 

 

 

LIVE TRADING CHAT ROOM:

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Still had the USDJPY bullish view on Tuesday’s webcast as well; allowing to catch the rest of the down move?

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Here are the click and play links if you are interested

TRADEFINDER webcast

Spreadsheet