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BK Big Trades – New USD/JPY Orders -Stopped
***CANCEL GBP/JPY Order
Place Order to BUY 1 lot USD/JPY at 123.67
Place Order to Buy 1 More at 121.60
Stop for ALL at 119.80
We are moving into the August doldrums which means that there should be a decline in volatility and consolidation in the forex market. This should give us the opportunity to buy USD/JPY at a lower level especially as the currency pair has become extremely overbought. Buying dollars ahead of the Fed tightening remains one of our favorite trades.