Trade photo

It's a 40 pip stop loss, 60 pip profit target. Soft landing trade.

Not long ago, the market wouldn't have liked the high service ISM data, but at the moment positive data is good news. And a soft landing in the US is still forecast.

For me, the AUD still has the best fundamentals, but there is a case to say any of the other currencies could be traded long Vs the JPY (or CHF).

The risk to the trade is 'negative sentiment', BOJ 'jawboning'. Or trading malaise before NFP.

I will close the trade regardless before NFP to avoid the risk of 'whipsaw'

Feel free to email any questions: johnelfedforexblog@gmail.com