Wednesday, September 16, 2009

Charms and USD/JPY Opportunities

My wife and I just finished feeding our twin sons. The level 3 nipple is still working like a charm, especially at night-time, as there's less spillage at night than in the day. The boys are already fast asleep in their crib (they are still sharing a crib). let's hope it stays that way for at least the next 6 hours...

Now that I'm up, I took a look at the market and see a nice little opportunity to get into the USD/JPY. It's trading near some hourly support, which is around the 90.80 level, which isn't far from the daily support at around the 90.20 level. I'm going long a few lots around here as I think this presents a favorable risk/reward situation. With the recent favorable economic data coming out of the U.S., and the CPI and Industrial Production coming out in the morning, there should be plenty of volume to move the market.

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