USD / JPY Bullish Potential
Bullish Idea:
Fundemental analysis shows that the USD is strong and JPY is weak accross the Daily Timeframe which gives us a reason to believe it has Bullish potential given the right circumstances on the Technical front; which it does.
The price broke through last weeks consistent 140.800 Resistance area on its third attempt and now i a looking for a retracement back to the line to test it for potential buyers to go Long.
If we get the buyers and push through to the upside (following the very long term trend) we can hopefully see a push up to the next major resistance of the 145.000 Mark.
- Risk to Reward of 3.25 lending high returns and low risk.
- Trade should take across a majority of the trading week ahead.
- Break and Re-test of Resistance turned potential Support level.
- Note to never risk more than 1-3% of your account on any given trade.
Please form your own research but I hope this can give some advice or fuel for ideas to be generated.
Thanks for taking the time to read my idea <3 .
Fundemental analysis shows that the USD is strong and JPY is weak accross the Daily Timeframe which gives us a reason to believe it has Bullish potential given the right circumstances on the Technical front; which it does.
The price broke through last weeks consistent 140.800 Resistance area on its third attempt and now i a looking for a retracement back to the line to test it for potential buyers to go Long.
If we get the buyers and push through to the upside (following the very long term trend) we can hopefully see a push up to the next major resistance of the 145.000 Mark.
- Risk to Reward of 3.25 lending high returns and low risk.
- Trade should take across a majority of the trading week ahead.
- Break and Re-test of Resistance turned potential Support level.
- Note to never risk more than 1-3% of your account on any given trade.
Please form your own research but I hope this can give some advice or fuel for ideas to be generated.
Thanks for taking the time to read my idea <3 .
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