As you know if you follow our forex investment blog we have been long the AUDJPY for over 2 months now as you can see from this post (Forex Investing – AUD/JPY Trend Change – Go Long).  Our initial entry position was at 62.15 with a 2% capital risk and 125 pip stop loss.  The currency pair shot up right after our entry point and we then sold off half our position at 72.15 for a 1,000 pip gain and an 8% total gain on our capital, you can read that post at (Managed Forex Account -AUD/JPY Taking a Profit).  We still hold the position of long the AUDJPY with our 1% position size.

We have since seen the pair continue higher while making another higher top and higher bottom, more bullish signals.  As you can see from the chart below the bullish trend continues as we continue to raise our stop loss along with the trend.  We have now moved our stop loss to 66.60 which at a minimum guarantees us a gain of another 445 pips.  The stop loss is actually set two boxes below the trend line because we want to also include the previous support set near the trend line.

We will continue to monitor this trade and raise the stop loss along with the trend line and previous support levels.

If you like our technical analysis then please be sure to check out our other forex investment blog posts and read more about our managed forex account.