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Big Trade USD/JPY 03.04.2016 +63
3/10 Close USD/JPY at market Close USD/JPY Long trade at 113.95 for +63)
3/7 Buy USD/JPY here at market 113.32 (looks like its finding support and we don’t want to miss the trade) Stop 111.32. This replaces the previous USD/JPY order
If you didnt change it, you’re probably TRIGGERED
3/4 – Place Order to Buy USD/JPY at 113.28
Stop at 111.28
Market is selling dollars post payrolls but we don’t think the news is weak enough to warrant this decline. The drop in wages is disconcerting but the improvement in job growth and steady unemployment rate plus the rise in participation should be enough to keep the Fed hawkish after leaving rates steady next month. 113.20 has been support for USD/JPY for the past 3 days, so we want to be buyers slightly above those levels if it drops to that point