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UnknownUnicorn772665
14 maj 2020 11:30

USDJPY Long Trade Setup *TL break* Long

U.S. Dollar/Japanese YenFXCM

Opis

Nice simple trendline break and trend reversal trade.

You can see the previous bearish 4hr trend and trendline has been reversed with a higher high made and now a higher low forming on the 4hr chart. If this new low holds then I can see price climbing up to 108.800/109.00 levels.

0.50 Fibonacci retracement level held strong on this last pullback and strong USD momentum seems to be coming in right now.

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Komentarz

Nice bullish momentum now, Price approaching recent highs @ 107.760

Komentarz

TP1 reached @ 108.00. Taken some profits, this trade is now risk free

Komentarz

Lower high forming at resistance this morning. I would lock in some more profits right now and await the next momentum move.
Komentarze
paulbt38
I would see 107.9 being an area of resistance from back in April. Break through that and your target is very likely. Where do you see an sl, around 106.000?
UnknownUnicorn772665
@paulbt38, 106.250 for the stop loss. Keeps it below the previous support before the last lows were made.
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