The Carry Trade is Back

The JPY crosses are moving again. I got burned big time(300 pips and counting) on my gbpjpy short, fortunately I just put in a very minimal trade. I'll close it tomorrow on my scheduled trading time.

I did earn some pips on my CHF and AUD vs JPY longs though. I read that Australia will raise interest rates so I felt that the carry trade still has some flavor into it. "May asim pa ang Carry Trade";).

Most of the majors are moving. The GBP, JPY, EUR and AUD. No big moves seen on the USD.

I will try to close my other GBP shorts tomorrow and add to my JPY winners. I would very cautious on joining the carry trade fray though. Too much volatility on the the JPY crosses has caused me to earn (100%+) and eventually lose (75%) of my account in a span of 1 week! It was a very humbling experience. I was trading full lots during the carry trade unwind but now I am down to minimal positions to calm my nerves.