USDJPY Trade Idea
We saw a nice bearish move on Friday as money flowed out USD into safe havens like the yen and gold. The up channel has been broken and I am looking for a retracement to the 50.0 or 61.8 fibonacci levels.
Once price reaches the 110.396 level I will look to price action for a sell signal to short this pair:
IF the above happens I will have my stop above resistance at 10.885 and
my take profit lower down at 108.992 (support seen on D1)
As usual, don't bet the farm and exercise good risk management.
For more info on exact entry and trade management feel free to follow me in Forex Bootcamp using the Telegram link below
Once price reaches the 110.396 level I will look to price action for a sell signal to short this pair:
IF the above happens I will have my stop above resistance at 10.885 and
my take profit lower down at 108.992 (support seen on D1)
As usual, don't bet the farm and exercise good risk management.
For more info on exact entry and trade management feel free to follow me in Forex Bootcamp using the Telegram link below
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