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USD/JPY Finally Breaks 100, But I take Profit Early...

USD/JPY Finally Breaks 100, But I take Profit Early...

2013-05-10 02:20:00
John Kicklighter, Chief Strategist
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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.

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