USD/JPY Long Position
Updated
USDJPYEntry Level: 109.850
TP: 11.850
SL: 108.42
Ratio: 2:1
Based on the daily chart, the price has closed at a key support level which it hit in mid september 2018. Note that after that it hit that resistance level, it went on a major bull run, which saw the price go from a low of 109.900 (current), to hit highs of 114.00 !! In addition, the current candle is a long wick, signalling a potential reverse as buyers are coming in. US-China trade talks are close to reaching an agreement, which should see the dollar rise back to its average moving price ranges.
Trade closed: target reached
Trade played out perfectly and actually went on to hit over 112.100. Hope you enjoyed your profits!
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