My personal portfolio
AUD/JPY trailing stop triggered
David Fuller's view It would have been prudent to close this long as the March high was being tested, especially as the position looked temporarily overstretched, but I raised my trailing stop instead. Consequently, I was stopped out today at ¥87.100, versus my purchase at ¥86.785 on 12th December. These prices include all spread-bet dealing costs.
I am very likely to reopen this position, or short the yen against another currency, in the event of a further pullback. Given Shinzo Abe's stated intention to weaken the Japanese currency, I regard yen shorts, subject to timing, as a potentially lengthy medium-term trade.