Last week (March 21) I discussed a trade in the USD/JPY to the long side. The rationale had to do with a very clear candlestick bottoming pattern. The trade involved buying the YCS, which is a double ETF of the USD/JPY exchange rate. Today, exactly one week later, the trade is starting to look nicely profitable and I am looking at taking first profits here.
Here is the original post of the trade idea: http://steadytrader.wpengine.com/u-s-dollarjapanese-yen-usdjpy/
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