As you know we have been long the AUD/JPY for about 1 month now.  You can read all of our post so far on this trade at the following links (Forex Investing – AUD/JPY Trend Change – Go Long) (Forex Investments – AUD/JPY Update) (Managed Forex Account – AUD/JPY Update).

The trade has gone very well for us and a few days ago we took our first profit.  We entered the trade with 2% capital risk at 62.15 and an initial stop at 60.90.  We have moved our stop up to 64.65 which would be a sell signal and a break of the trend line.

We sold half our position at 72.15 and the trade so far has made us 1,000 pips. Because our initial stop loss was 125 pips and we took a 2% position with a 1,000 pip gain we have made 8% on the account in one month plus we still have half our position.  If we had sold all our position we would be up 16% in one month while only risking 2% of capital.

From here we will stay in the AUD/JPY trade as long as the trend line is not broken and we will continue to move our stop loss up as the trend continues up.

If you like our technical analysis on the forex market be sure to read all our managed forex trades on our blog and learn more about forex investing with us.