LONG ON USDJPY - Reverse The Previous Trades (if any)Buy stop @108.800 JPY with target @109.500 JPY or maybe higher @110.000 JPY (use Trailing Stops) and conservative stops at @108.200 JPY or a closing-basis stop below the low of 108.580 JPY .
For more information on targets - Refer to the following charts (the Horizontal resistances and the channel resistance are drawn)
*Alert* / *Note* - Reverse the trade only if the market hits the Buy stop (mentioned above). If the Buy stop doesn't trigger, then it is better to stay SHORT .
There is a minimum of 70 pips to be made in this trade.
Earlier (in the previous idea/related idea), I told to short this pair. Now it's time to reverse this trade (taking a small loss of 26 pip, i.e. from 108.500 to 108.761) because the context of the market has changed.
For explanations, watch out for my posts coming later.
