Taking a Loss on USDJPY

Taking a Loss on USDJPY

We don’t always get it right in trading! This week we ended up taking a loss on USDJPY.

A very important thing to remember in trading is losses will happen to everybody, this is why proper money management and an understanding of leverage are a must for every trader.

We had expected from our analysis that the USD was going to weaken further for a small amount of time, while good date was coming out of Japan regarding it’s current account and BoJ Lending.

So we entered a Short Position on USDJPY, however some positive data from the US including unemployment claims and the federal budget balance had given the USD some strength.

Within the chart we could see a bear trend with sellers mainly in control at certain areas.

Bulls were starting to gain strength and the positive data from the US gave them that extra confidence to get into the market and take the USDJPY higher.

So we made a loss, we don’t dwell too much, instead we move on to the next trading opportunity.

loss on USDJPY

(Our trading and image was done using an account with UK based broker IG)

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*Please Note, Forex and other forms of trading carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice. 


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