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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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At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.