Day trade
Trade view / 01 June 2016 at 11:28 GMT

UPDATE: Japan sales tax delay propels EURJPY trade into profits

FX Trade Strategist /
Instrument: EURJPY
Price target:
Market price:

The original trade idea posted on May 30 was based on the view that the EURJPY rally was temporary and due to month-end positioning. It also assumed that strong US data would renew downward pressure on EURJPY. Those premises proved correct.

What wasn't expected was the violent USDJPY reaction to news that Japan's sales tax hike will be delayed. That turned what was expected to be a slow grind lower in EURJPY into a nosedive, propelling this trade into profits.

The EURJPY take-profit level was achieved and the position closed for a gain of 1.63 points.

Note: The second sell order was not filled, but it came excruciatingly close.

Original parameters

Entry: sell ½ position of EURJPY at market (currently 123.83), balance 124.20.

Stop: 124.57.

Target: 122.20.

Time horizon: five days.

— Edited by John Acher

Non-independent investment research disclaimer applies. Read more

mishco mishco
Nice trade Mike, gratz
Estuardorlemus Estuardorlemus
Thanks Mike, we are lucky to have you. Have a good day
Michael O'Neill Michael O'Neill
The quick move was lucky.
Teja Teja
Congrats, well done Michael! I like your honesty Sir!


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail