All the way back in March 2009 we took the trade to go long the AUD/JPY at 62.15 (Forex Investing – AUD/JPY Trend Chage – Go Long).  Now almost 8 months later and the trade is still in an uptrend and has reached a high over 85.15 which is 2,300 pips higher.  Today now in the 82 range we continue to stay in the trade as the trend has not changed.

Looking at the chart we can see it has pulled back several times to the trend line.  It actually broke the trend line twice however it has never had a sell signal at the trend line or below the trend line which is necessary to confirm a change in trend.

So we remain bullish on this trade however it has gone up so much that we are cautious that a change in trend may be near. We have moved our stop up again this time to 78.90 which would both break the trend line but also be a sell signal directly at the trend line and would confirm a change in trend.

This new stop loss assures us a profit of 1,675 pips.  I would say that is a pretty nice trade so far.

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