My thinking here is that USDJPY has recently bounced down from a long term downtrend line and has now gone through the uptrend line that has shown strength over the last few months.
Whilst the SL is quite large. It was the nearest resistance to be found on the daily chart and there is still room to have a 2:1 trade risk/reward so criteria has been met.
SL - 109.235
TP - 106.820
Whilst the SL is quite large. It was the nearest resistance to be found on the daily chart and there is still room to have a 2:1 trade risk/reward so criteria has been met.
SL - 109.235
TP - 106.820
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.