The USD/JPY sure doesn't move like

The USD/JPY sure doesn't move like the GBP/USD. This week, my position in the USD/JPY has been quite uneventful. The pair hasn't moved out of the 114.35 - 115.00 range and it looks like the week will end with the pair somewhere in this range. Even the bearish economic data out of the US this morning couldn't push the pair below the 114.35 support line.

dollars

There was a morning rally versus the dollar and I took advantage of it by shoring up my position for the weekend. I closed out my USD/JPY position at 114.02 for 0 profit but also 0 loss. I'll wait for the weekend to develop a plan to enter a position come Sunday or Monday. I might have toughened it out a little longer but there were offers/bids at this same level exactly a week ago. So should I have reversed my position and bid at 114.02. Maybe. I may have another opportunity to put a offer at 115.00 if we continue to range trade next week.

watching

I've been watching the majors this evening and the movement has mostly been against the USD. I'm waiting for the US data in the morning which includes September CPI, September Retail Sales, September Industrial Production, August Business Inventories, and the October Michigan Sentiment survey. That's quite a lot of market moving data. We'll see if the USD can break through those support and resistance levels.

I had a bad trading week and I'm still stuck in my USD/JPY Short Position at 114.02. This evening, the Yen made a move as low as 114.36 but that was about all it could muster. The USD/JPY currently trades at 114.55.