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U.S. Dollar / Japanese Yen
Short

USD/JPY Short

By jamestp96
Updated
Lower highs on RSI, with double top formation around a resistance area. TP @ resistance level below expected to drop and touch. SL above recent double top wicks, incase it breaks resistance above.
Comment
USD CPI MoM below forecast. This has aided this trade right now. But we can ignore this and just pretend it is perfect TA, and not my benevolence of ignoring FA....
Comment
Deliberation to move SL downwards now slightly. Will wait for trade to hopefully move closer to the 50 EMA before doing so.
Comment
Expecting stagnation around 109.400, still unsure on movement of the SL yet.
Comment
SL Moved to just under 109.8. Sitting on 50 EMA on 4hr, expecting a slight bounce here. So moved SL to reduce downside risk, still hoping it plays out as expected.
Trade closed manually
Closed out at 109.320 before the weekend.
Chart PatternsTechnical IndicatorsTrend Analysis
jamestp96

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