Well was it me or were the forex markets completely dead this week? While the major indices are falling and the oil price continues soaring, the major currency pairs seem stuck in a rut. I only ended up making one trade using my tried and tested system and that wasn't exactly a runaway success.

The position was on the USD/JPY pair. I opened it yesterday morning when there looked like being an upwards EMA crossover, which I was waiting for because the daily Supertrend was indicating a bullish trend. I used the 1 hour chart for my entry and went long at 106.30. The price then fell around 40 points after the data announcement at 1.30, which almost panicked me into selling, but I held my nerve and thankfully the price resumed it's upwards trend.

I left it running until today, moving my stop loss to break-even expecting it to soar through 107.00 but it never happened and I finally gave up on it earlier today closing out at 106.77 after I remembered it was Independence Day in the US today and the markets would be extremely quiet anyway (Happy Independence Day to my American readers).

So all in all it was an average week trading my main trading strategy with the markets being so quiet, but at least I made a profit. If you would like details of this strategy please subscribe to my newsletter by filling out the form above.