Forex Carry Trade Idea #2

NZD/JPY

FXCM does not offer this pair so we trade it at anther FCM.

We are buyers here also, and again the stop is very wide so take a Small position……… no more than “cash” no margin, (if your account value is $50K take no more than a $50k position, 5 mini lots) 

Currently the pair is trading at 71.30 on the ask. The stop level we think should apply is the recent low of 67.22, so a stop at 66.90 is recommended, thats  -440 pips so AGAIN small position, less than cash is best.

We are in at 71.30  Stop Loss at 66.90  -440  Position size 33% of cash

Remember you’ll be earning Rollover interest which will bring down your basis.