After breaking downward from a descending triangle, JP225USD rallied with all the other global equities. It has shown some resistance at $19,900 which was a former support. If it breaks down, JPYUSD and XAUUSD should rise. Conversely, If it breaks up, JPYUSD and XAUUSD should fall. I will watch the Japanese open and decide whether to go long or short on these trades.
Trade active
I shorted 1 December2017 future at 19760 (a couple of hours ago) with a stop loss at 19805 (the futures price is less then today's market price). It is trading sideways as expected with one rejection so far. I don't program futures trades with OCO orders due to the high leverage and loss potential. Otherwise I would go long at 19905 (the current price equivalent to about 19805 for the future) and a stop loss for the long of 19890 (18890 for the future).Disclaimer
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