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Trading Idea for 04/28: Long Jap. Yen

As you can see on the chart below, the 90000 level is an important one. It was a clear resistance level in February and March of this year and could now work as support. I'd try to buy the June Japanese Yen one tick above today's high using the TTE with a first target at around 90470 with the idea of a possible 1-2-3 low. I would risk about $300/contract on the trade.

Update 04/28, 6 AM CT: The Japanese Yen exploded to the upside after the Monetary Policy Statement and the entry happened with a few ticks of slippage. The trade is making about 10 times the initial risk right now (I can tell you, this is something that happens not very often) and my idea is to take the money and run.  

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Wednesday, 19 December 2018

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.