On April 10th we updated you on the AUDJPY trade we made in the managed forex account in a post called (Managed Forex Account – AUD/JPY Taking a Profit) where we had sold half of our 2% capital position after gaining 1,000 pips and to give us an 8% gain on the overall account.

We are still in this trade but have seen the AUDJPY fall back down over 500 pips on a pull back, this was somewhat expected as it had such a strong rally.  The chart still looks very good at this point with nothing to make us to worried.

We remain in this position as the trend still remains above the trend line.  As of right now our stop loss is at 64.65 which would be a sell signal and a change in the trend.  The stop also does guarantee us at a minimum a 250 pip gain on the trade.

The EURJPY trade that was entered in the forex managed account last week in the post (Forex Managed Account – EURJPY Going Long) has now been stopped out.  As you can see on the chart it broke previous support where we entered the trade giving the first sell signal in the new uptrend.

We had only placed a small trade of 1% capital on this trade due to our exposure already in the AUDJPY trade.  We had a quick stop loss of 100 pips that did not hold.  As of right now the up trend is still in place for the EURJPY.

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