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Thursday, December 15, 2005 |
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When I'm at work, I have so many things going on so I really try to concentrate on only 1 currency pair. That's about all I can handle. I've been following the Yen this morning and there is now solid resistance at 116.73, the 38.2% fibonacci from September 2005 low and early December high. I went short at 116.73 with a tight stop if resistance was broken. The pair is currently trading at 116.40. I'm hoping for a return to the 116.00 level but I'm not counting on it. I've placed a 10 pip trailing stop to get something out of this trade.
Forex Trading
USD/JPY
december 2005
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