I’ve a bit of a trading dilemma with my USDJPY longs so I’m putting it out to the wise ForexFlow readers

I’m having one of those moments where I’m at a cross roads with what to do with a position. I’ve had these longs since 108.50 and higher and have been letting bits off above 109 and various places towards 110.00. I’ve been bringing up my stops to cover any overnight messing at 109.30.

The dollar is looking a touch softer today but I don’t know whether to shift my stop a shade lower, let it stand and take whatever comes, or perhaps take the current price to get a bit more than my stop (currently 109.42)

I’m a potential buyer down into 109.00 anyway but I’m facing that conundrum of not wanting to give up a position, yet I don’t want to give more of the profits back.

The 109.40-10 area looks “busy” so anything could happen there.

USDJPY 15m charts

USDJPY 15m charts

We’ve had a chat about it in the trading room but I thought I’d get some wider views from you folks. What would you do?

 

Ryan Littlestone

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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