Last updated: Wednesday, February 24, 2010
I’ve been biding my time until we see better trade setups on short “risk” ideas. But I see an opportunity in the USDJPY that looks pretty solid. The pair has held up at the 61.8% Fib retracement of 88.50-92.20 move at approximately 90.00, which is likewise a psychologically significant congestion level. I’d like to go long here targeting a return to 92.00, stop below 89.
