USDJPY LONG (DAY TRADING STRATEGY - COUNTER TREND TRADING)
Updated
USDJPY1D - Overall trend is still uptrend. However, price formed a low last week and break the support @ 112 BRN zone. (SBR)
Price might turn to downtrend based on this pattern. However, based on price movement behaviors... usually price will retrace back to 112 then only continue it's downward movement. On the other hand, if currently is the retracement for uptrend... then we have confluence of BRN zone + RBS zone + TL on 111.00 level. Either way, it is a good opportunity to long and target at 112.
In 1H time frame.. .We can see the harmonic movement of price moving up. More upward movement we can observe. Anyway... we kind of a bit late to enter the market as the price is already rallying.
Target buy limit @ 111.10
SL @ 110.70
TP 112.00
RRR at least 1:2
Trade at your own risk (TAYOR)
Note
4H time frame: Price might continue to fall lower... Anyway I still pro buy for now.
Trade closed: target reached
Just a quick update. Well... price broke lower. However.. I still managed to enter at 110.95 SL 30 pips Target 112.05
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