Trade: Short USDJPY @ market (now 89.75)
Stop Loss: 92.00
Take Profit: 85.00
Commentary: IntegrityFX Day Trading Strategy. Longer term, USDJPY is in a downtrend and has recently retraced up to give us a better price to sell. We are expecting further US dollar weakness as the Fed is likely to hold rates exceptionally low for a sustained period of time and the USD becomes the new currency to borrow for the carry trade. See John Rowa’s article The Death of One Carry Trade Gives Way to Another.
Trade Status: Open