USDJPY with a 2.95 Profit Factor on the 1-Hourly Chart

I’m keeping a close eye on USDJPY right now, and here’s why:

- High Profit Factor: Target 1 offers a whopping 2.95 Profit Factor, which is quite attractive.

- Timing: Even though NFP is coming up tomorrow, this trade is on the 1-hourly chart. It’s possible that price action could reach my first target or meet the criteria that allows me to shift my stop to entry, thus achieving a risk-free trade, before the big event.

Key Points to Remember:
- Volatility Alert: NFP can cause sudden market movements. Keep that in mind and monitor your positions closely.

- Risk Management: Once the market fulfills the criteria for Target 1, I plan to shift my stop to entry. This approach helps protect any unrealized gains and reduces stress during high-volatility news.

If you’re considering this trade, stay cautious around the NFP release, and remember to include our stop-loss buffer to manage your risk effectively.

What’s your take on USDJPY heading into NFP? Are you eyeing any other setups? Share your thoughts below!

Happy trading, everyone! 🚀