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Trade Update: Where Can we Add to USDJPY, EURJPY Longs?

Trade Update: Where Can we Add to USDJPY, EURJPY Longs?

2013-04-10 15:50:00
David Rodriguez, Head of Product
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Video summary: The USDJPY has posted truly historic moves as our technical studies show it's now at its greatest percentage distance from its 200-day in modern times.

Clearly the risk of correction is extremely high, and any pullbacks could be violent. Yet high JPY volatility expectations suggest that our Breakout2 trading strategy may continue to do well in key Yen pairs. Indeed we look to specific levels to add to existing long positions.

Note, however, that we no longer favor using Breakout2 on the USDJPY and GBPJPY in particular due to recent moves in crowd sentiment.

Download all six automated trading strategies free for Trading Station via an ongoing promo on FXCMApps.com

forex_video_systems_sell_euro_breakdown_and_look_attractive_body_1a.png, Trade Update: Where Can we Add to USDJPY, EURJPY Longs?

Follow and contact David via Twitter http://www.Twitter.com/DRodriguezFX

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View Previous Articles on Automating Strategies on FXCM’s Tradestation Desktop

View how to automate the high-volatility Breakout2 Trading System via our previous article and webinar recording.

Auto trade the trend reversal-trading Momentum2 system via our previous article and webinar recording.

Trade with strong trends via our Momentum1 Trading System and view an archived webinar

Use our counter-trend Range2 Trading system and view an archived webinar guide on automation

Why do most forex traders lose? How can we avoid common mistakes?

New to FX markets? Learn more in our video trading guideand follow our forex education Twitter feed.

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