The USDJPY broke from its short ranges seen in the last several weeks and rallied almost 120 pips touching a high of 78.20 before reversing all the gains by the end of the week. This breakout caught many Yen traders off guard. OpenBook trader mizogutisennri from Japan was able to book several profitable positions this week. This trader identified the top near 77.60 and sold the USDJPY and obtained between 58% and 78% profit on their trades. The trader also caught the AUDJPY rally and closed near the high of 80.82 and netted a profit of 89.39%. This trader focuses on trading the Yen pairs such as AUDJPY, GBPJPY, USDJPY and EURJPY. Another OpenBook trader YACHTRADER who devotes 15.8% of portfolio to trading the EURJPY caught the breakout in the pair and shorted it from 101.61 to 100.96 and obtained a gain of 84%.
OpenBook trader rnkartha was also profitable with their scalping strategy on the USDJPY. This trader looked for opportunities to short the USDJPY as it approached 77.22 and looked for opportunities to buy USDJPY as it approached 76.97 this week. The trade obtained between 3.9% and 6.4% on their short term trading on the USDJPY this week. This trader who dedicates 21% of their portfolio to USDJPY is up 10.9% for the week using a mix of medium and high risk strategies.
Asian markets see sawed today with the Japanese Nikkei closing down 8 points, the Hang Seng down 15 points and the Australian S&P ASX up 19 points. Traders on OpenBook are primarily long the USDJPY with average limits at 77.80 and stops at 76.60.
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