Unfortunately we took profits on some of our Yen trades, but fortunately we remain short the US dollar.

The Yen volatility is interesting, but still feel the G7 has been as forceful as it can with Japan having to agree to the wording in the final statement. The fact that the G7 said markets should recognize the good fundamentals of Japan, tells us that behind closed doors other members are unhappy with Yen weakness.

Expect Yen to remain volatile and if it continues to break lower against the USD we will sell it, but the preferred scenario remains an eventual capitulation of USD/YEN in line with broad based USD weakness.

The Euro and other currencies are strong against the USD as favoured and expect more.

The AUD and NZD, everyone is looking for a correction waiting to buy on dips but it is just not happening. Favour a sharp up move in these currencies over next 24 hours as long as immediate support in AUD at .8320 holds.

Currency Trading

TACTICAL Points are for April

EUR/USD 1.3565 +411 pts

Long 2 units 1.3349, Profit stop loss 1.3501

Long 2 units 1.3399, Profit stop loss 1.3521

Buy 2 units on stop 1.3589, stop loss 1.3521

Sell 2 units on stop 1.3261, stop loss 1.3299

GBP/USD 1.9870 +231 pt

Long 2 units 1.9699, Profit stop loss 1.9801

Long 2 units 1.9739, Profit stop loss 1.9831

Long 2 units 1.9849, stopped at 1.9801

Buy 2 units on stop 1.9899, stop loss 1.9841

Sell 2 units on stop 1.9631, stop loss 1.9669

USD/YEN 119.15 -74 pts

Sold 2 units 118.71, stopped 119.19

Sold 2 units 118.41, stopped 118.99

EUR/YEN 161.60 +283 pts

Long 2 units 157.69, Took Profit 160.21

Long 2 units 161.29, stop loss 160.91

EUR/GBP .6825 -35 pts

Buy 2 units on stop .6829, stop loss .6801

GBP/YEN 236.75 +273 pts

Long 2 units 234.79, Took Profit 235.01

Buy 2 units on stop 237.29, stop loss 236.51

Sell 2 units on stop 235.81, stop loss 236.49

AUD/USD .8335 +398 pts

Long 2 units .8229, Profit stop loss .8301

Long 2 units .8249, Profit stop loss .8301

Long 2 units .8269, Profit stop loss .8311

Buy 2 units on stop .8359, stop loss .8331

Sell 2 units on stop .8171, stop loss .8209

NZD/USD .7395 +444 pts

Long 2 units .7209, Profit stop loss .7341

Long 2 units .7229, Profit stop loss .7351

Long 2 units .7299, Profit stop loss .7361

Sell 2 units on stop .7301, stop loss .7359

AUD/YEN 99.30 +365 pts

Long 2 units 94.79, Took Profit 98.41

Buy 2 units on stop 99.69, stop loss 99.31

1 unit = 50% of Initial Account Size

e.g. for a $100,000 account,

1 unit = $50,000 position

2 units = $100,000 position

STRATEGIC

EUR 1.3565

Bullish at 1.3369, S/L 1.3451

Sell at 1.3331, S/L 1.3389

GBP 1.9870

Bullish at 1.9739, Profit S/L 1.9751

Sell at 1.9441, S/L 1.9499

YEN 119.15

Bullish at 118.69

Stopped at 118.61

Buy at 119.79, S/L 119.21

Bearish at 118.31

Stopped at 118.89

Sell at 118.51, S/L 119.09

EUR/YEN 161.60

Bullish at 156.99, Profit S/L 160.51

Sell at 159.01, S/L 159.89

AUD .8335

Bullish at .8229, Profit S/L .8271

Sell at .8211, S/L .8269

NZD .7395

Bullish at .7179, Profit S/L .7311

Sell at .7221, S/L .7289

CHF 1.2135

Buy at 1.2269, S/L 1.2221

Bearish at 1.2181, S/L 1.2229

CAD 1.1360

Buy at 1.1639, S/L 1.1581

Bearish at 1.1531, Profit S/L 1.1439