June 10 EUR/JPY long

June 10, trading around noon Tokyo time. The impression was that currency pairs involving the yen are a bit hard to touch, but

while watching the chart during lunch, the pair that looked the best was EUR/JPY.

If not involving the yen, EUR/USD might have been better, but it had already risen...

Although the basic approach is a trend-following trade, the first thing I consider is the [stop-loss line].

I think about the stop-loss at a noticeable nearby line, so if it has already moved past it, the stop-loss inevitably becomes farther away.

Therefore, I chose EUR/JPY, which looked like it might rise from here.

With USD/JPY being indecisive, and considering currency strength, I wondered whether the dollar and yen strength might not differ much either.

Basically, I sometimes enter two or three pips. In such cases, I add at the moving average or think from the stop-loss line.

First, the environment recognition indicator PeaceMA shows all moving averages above. It might have been okay to wait for a bit more of a pullback, but since the stop-loss line was close, I viewed a pullback as a chance to add, and entered without waiting for a pullback. People who don’t average down should pull away from the MA a bit more. Please consult your funds and lot size.

Even in Tokyo time, and at noon. The price movement is poor. But I’m trading with that understanding.

In the end, I was able to grab the target of 5 pips.

Emotionally, cross-yen pairs are still hard to touch. With upcoming interest rate announcements and such, it’s even more so...

According to my custom indicator measurements, the hourly wage equivalent was 1609 yen.