Bullish USDJPY ends above 114.5
Updated
We may have some resistance here around @113.5, but I'm seeing more up move for this pair.
The real difficult levels for this bullish movement would start above @114.5 and all the way to @118.00, where the weekly 61.8 Fib as well as three major monthly trend lines and monthly moving average are intersecting there.
Trading plan:
will calculate my short pending order to be with a wide a SL above @122.00. My short order will be divided and spreaded all the way between @114.5 and @117.5, the higher the larger. with risking not more than 3% as an initial plan.
Long hedging positions would be set later if the @118.5 is broken and retested.(low probability but not impossible)
Will update the chart later.
Good luck
The real difficult levels for this bullish movement would start above @114.5 and all the way to @118.00, where the weekly 61.8 Fib as well as three major monthly trend lines and monthly moving average are intersecting there.
Trading plan:
will calculate my short pending order to be with a wide a SL above @122.00. My short order will be divided and spreaded all the way between @114.5 and @117.5, the higher the larger. with risking not more than 3% as an initial plan.
Long hedging positions would be set later if the @118.5 is broken and retested.(low probability but not impossible)
Will update the chart later.
Good luck
Note
Price is entering the short zone, it is safe to short untill 118Note
Price is consolidating above @116.80, this may go further up, my shorts are all running, no long hedge positions are opened yet, but looking to open them if the price could not break down the @116.00Trade closed: target reached
1st target reached, 1 year consolidation to get there
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