Disliked
Taking it in AUDJPY, even though it has already moved out of the ideal buy zone....Ignored
Just took this off at BE....
I keep missing the entry on USDJPY, when price moves near the buy zone but fails to enter on USDJPY before moving higher...
Price completely filled AUDJPY's buy zone and moved out to the upside and tempted me in .... but....
I am short EURUSD and expect some short term risk off coming....
AUDJPY and USDJPY do not move in step either together or opposite of EURUSD.....
AUDJPY is only 58.3% correlated
USDJPY only 47.1 %
But USDJPY is the lesser correlated fro one thing,
PLUS, since I expect one more risk off swoon in the market, USDJPY has a good chance to finally fill in the buy zone and fill my resting limit orders, while in the same move, AUDJPY may stop out on the same move...
So I've closed AUDJPY longs, and I'm keeping my buy orders in place in USDJPY between 86.65 and 85.65 knowing I may miss another move in the great JPY manipulation trade, but that plan fits better with the trade I already have in place.