Forex Trading Program: 10/9/2013

DailyFX

Trailed out of tactical short position in USDJPY for 47 points (entry was 97.75, stop was trailed to 97.28). The break above 97.20 opens up a move into a short term trendline near 98.00. Looking to play through NZDJPY longs. Support is 80.60 and stops need to be 80.20. Bigger run could stretch above 82 in the coming days.

GBPAUD is breaking down as well. Look to position short on strengh into former support at 1.6950 with a 1.7080 stop. A measured objective is 1.6273 (target zone of 1.6143-1.6322).

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