Just a thought – AUDUSD and trading results of EURJPY trades

AUDUSD: with the possible retracement of this pair I am going to look for short opportunities after retracement occurs. From little longer term perspective I think AUDUSD needs some of the range play before it can break even higher. With the USD positive news coming out this year I am positive about AUDUSD reaching levels like 9740 and 9654 in short term future before USD slides to pessimism again. Possible SHORT areas after retracement can be parity level and 9900. I am going to wait patiently and try to go SHORT there.

EURJPY: yesterday I initiated two positions in EURJPY. After 108.50 hold strong it was a good time for me to think about the short side. Longer term chart showed also signs of the down trend. Anyway for some reason the trading wasn't as profitable as I would expect. I didn't want to hold the position over the news coming out of US about unemployment because EURJPY pair is indirectly effected by EURUSD pair. Over all for the outcome the first position generated +12pips and second position was closed on break even. Alltogether +12pips for the end of the week. After the news came out the EURJPY produced 120pips but I wasn't at the desk to trade. Weeell, next time.

That's for the week. Have a great weekend.