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Forex Trading: Short EURJPY and Stop Trailed on AUDUSD Longs

Forex Trading: Short EURJPY and Stop Trailed on AUDUSD Longs

Jamie Saettele, CMT, Sr. Technical Strategist

Stops on the AUDUSD long position have been trailed to 10450. The entry was last Wednesday at 10340.

I went short EURJPY last night at 10641 with a 10718 stop. Signs of exhastion early in the week are promising on intradays (JS Spikes on 240 minute charts). Stops will be trailed when appropriate but a soft target area is 10465.

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