Monday, September 8, 2008

Short USD/JPY

Short 2750 USD/JPY @ 108.535, initial stop 108.955, exposure 42 pips, $11.55, or 14.46%.

This pair hasn't done much this morning. The theme this morning is massive dollar strength, but not much strength against the Yen. I'm going to bet against the dollar where it is the weakest. JPY is below its open, and has been probing lower, so I've shorted it on a pullback. So far, not looking like the best plan, but we'll see.

Current closed equity: $79.86
Current position: Short 2750 USD/JPY @ 108.535
Current exposure: $11.55, or 14.46%

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