Does USDJPY have the legs to move further, i cant see it.

28 thg 12, 2019

Hello Traders,

I have opened a short on the USDJPY pair, i feel that on the daily charts the struggling to break the 109.70 zone.

We have a long term resistance starting from OCT 18 and i just cant see it breaking through, unless we get some very good economical data or trade deal news with China i can see this pair falling.

I feel even with good news, that we wont see past the 110.45 region and i would be looking to re enter here if my trade stops out.

My entry was at 109.45
T/P 108.75 (although i see potential for further profits to the 108.45 zone, i may close some of my trade and let the rest run if the pair heads south)
S/L 109.75


I am very bearish on this pair and feel that over the coming months into Q2 of 2020 the 104.75-105.00 region would be my target.

Always prepare for all outcomes,

Safe trading people.

30 thg 12, 2019

Giao dịch đang hoạt động

So we got the main thing correct, the direction of the pair.

This is now a risk free trade with my S/L moved into profit, if the original entry point is re tested and fails I will be re entering the same short trade but with my T/P moved into the 108.50 zone as a another failure to break 109.70 would result in a rapid decline in my opinion.

All in all a good day at the office.

Trade safe and prepare for all outcomes.