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Trading NZD / JPY - Flat
By Eliseo Agas | November 7, 2007
I got out of my NZD/JPY long at 88.70 upon seeing a breakdown this morning in the price action via the 4-hour charts.
Though it could possibly go back up I’d rather take the money and run at this point. Unfortunately, it wasn’t necessarily the best close since I was thinking about closing it out last night before going to bed at a much higher level. There were subtle signs of weakness developing last night but I decided to hold on instead to see what the overnight action would do for me.
Nevertheless, it was a profitable trade and I’m now looking forward to the next.
Tags: forex charts, forex trading, JPY, Kiwi, NZD, Yen
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