24/04/2014: I have just taken profits on my medium term Dollar/Yen long position

I have locked in the profit at 102.37.

This has locked in 41 pips. I am concerned that the recovery seen in the past two weeks for the dollar is coming to an end. This would see Dollar/Yen return below 102 once more. The daily technicals are beginning to deteriorate and intraday momentum indicator are falling over. I have been running medium term position for a couple of weeks and the stalling recovery suggests this is a decent time to use today’s mini bounce as a chance to close for the profit.

 

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