USD/JPY Finally Breaks 100, But I take Profit Early...
USDJPY has been lurking just below 100 for weeks, and the pair finally made its move with a bullish breakout this past session. It isn't difficult to draw a comparison for this move to gold's long-awaited tumble below $1,500. Yet, shortly after the breakout occurred and my long USDJPY entry order was filed; I booked a modest profit rather than let the trade ride. Why? We discuss this trade, the dollar's remarkable performance, a jolt of stimulus fears and the complacency towards devastating risk trends in today's video.
Expect breakouts? Use the DailyFX Breakout 2 strategy to signal or confirm setups!
Sign up for John’s email distribution list, here.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.