Attachments: Time to go long the Yen

Time to go long the Yen

#1
First Post: Oct 6, 2008 12:25am Oct 6, 2008 12:25am

Maxsmart
| Joined Mar 2007 | Status: Trader | 641 Posts

The USD/JPY just broke below the neckline of the Head and Shoulders pattern on the Daily chart and the credit crisis is back in full swing. Time to bank off of the continuation of the appreciation of the YEN. The GBP/JPY has the most room to fall and the USD/JPY will probably at least see 100. I bought a put @ 104 on the USD/JPY to expire at the end of the month to guard against the volatility. It's about to get interesting.

#2
Oct 6, 2008 1:22am Oct 6, 2008 1:22am

mphpopular
| Joined May 2008 | Status: Trader | 1,245 Posts

Quoting Maxsmart

Disliked

The USD/JPY just broke below the neckline of the Head and Shoulders pattern on the Daily chart and the credit crisis is back in full swing. Time to bank off of the continuation of the appreciation of the YEN. The GBP/JPY has the most room to fall and the USD/JPY will probably at least see 100. I bought a put @ 104 on the USD/JPY to expire at the end of the month to guard against the volatility. It's about to get interesting.

Ignored

I post out the chart for you.

Attached Image (click to enlarge)