Trade Update, AUDJPY Long 5K

I have recently closed my USDJPY shorts. Bagged $160+. Not bad

It seems like the US stimulus plans are slowly creeping into currency traders' psyche. I feel that they are starting to lean on going USD heavy. I may be wrong. I backed up my opinion with 5k long on AUDJPY. I saw that the AU economy is still strong and JP will return to carry trading with their confidence returning due to the reason that the US may skirt recesion.

GBP has been strong during the last three days. If I had more capital, I would have traded some longs on any pair with GBP.

Here is my study of last weeks currency action:

My Trading Screen and Short USDJPY

I finally got my perfect trading screen setup. Here is a preview:

I have my excel studies on the upper left, I have Bloomberg TV streaming on the right and my charts on the lower half of the screen. I feel so satisfied with this screen setup. I feel like a pro trader. I am just assuming how a real trader does his screen but it feels like it. Ok, i'll continue on with my fantasies now.

Its a global panic happening on the financial markets by the way. I am expecting a bang after the holidays. I hope it goes along with my bet. I added to my USDJPY short.

USDJPY Carry Trade or Bust

Whoa! JPY is in a bull run. What bull run? It is the carry trade exits you dummy. With the impending US rate cut of 0.5% everybody is running to the exits. Mr. Ben Bernake has signaled that the US will use "insurance" to beat inflation. Whatever that means, they are taking recession head on. Good for them. But with the rates going down, well-moneyed traders are hitting the exits and rushing to the EUR and CHF. If you would look at the charts of EURJPY and CHFJPY, it seems like its drawn by a straightedge. But the bets are probably heavier on the CHF because the chart is falling on the EURCHF.

As for my last trade on the USDJPY, my earlier 2 trades are big winners now but the latter 2 trades went bust. Stop hunting who-knows-who got them, after the prices got to 110.00, it sunk like stone on water. I am still keeping my two winners. I don't know when I will close, but right now I am more inclined to close it when prices drops below 100 ;) . I am not sure it will happen but I have a feeling that it would go down the 100 yen mark. Here in Korea the dollar is already below the won, the yen would probably follow suite.

For anyone who have seen my tradesheet last post, I will try to post it everytime it gets updated. You can use this tradesheet as your own. It can be downloaded for zohosheets.com. Here is my updated tradesheet: