Daily Observations: November 15, 2012
- Long EUR/CHF from 1.2018, Stop at 1.1990, Target 1 at 1.2500, Target 2 at 1.2750
- Long USD/JPY from 80.65 (1/2), Stop at 80.75, Target 2 at 83.30
Time Frame: 1-day to 1-week
Recently Closed Positions:
- Closed Short AUD/USD from 1.0318 at 1.0395 for +72-pips
The aggregate effect of stronger US data and political posturing in Japan has boosted the USD/JPY through my first target 81.75, and it is well on its way to its second target at 83.30. I've moved up my Stop to breakeven at 80.65, but a break above 82.75 will prompt me to raise my Stop to 81.75, locking in another +110-pips.
I'm not that active typically during holiday weeks; I'll be more aggressive once liquidity returns on Monday.
--- Written by Christopher Vecchio, Currency Analyst
To contact Christopher Vecchio, e-mail email@example.com
Follow him on Twitter at @CVecchioFX
To be added to Christopher’s e-mail distribution list, please fill out this form
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.