Dollar into correction, yen to go higher

US dollar index finally entered to a correction phase. CHF is still weaking against USD, but yen appreciate significantly.

This week, we heard a upbeat news from Japan, too.

But biggest contributor of the index’s correction is Euro’s rebound, of course. I made a 1% profit on EURUSD long trade this week.

I will probably try to buy EURUSD again in the next week from purple .4 to .5 (1.2734 level) as long as the current correction does not do lower than the red line (around 1.2430). As usual, I will wait until I see a clear initiation of the rally.

I entered a short position of AUDJPY from 75.10 with 80.10 stop loss. It’s a 500pips potential loss, but I thought it’s worth the risk. AUDJPY dropped below 72.00 soon after followed by almost 400 rebound. It’s a violent move, and we should keep our position size small. I know it’s a scary move to some traders, but the only those who can sit tight can make a lot of money here. I will probably take profit at 67.00 to .66.50 level.

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Rational Move always use stop loss orders, and this is the worse case potential loss over the capital for the currently open positions. This is unrealized loss is less or equal to the risk exposure.

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