informedtrades
Long

Re-Entering CADJPY Trade

FX:CADJPY   Canadian Dollar/Japanese Yen
88 0 4
Last time I tried going long CADJPY             was about a week ago, and the trade was virtually identical to the trade I'm putting on now. I got stopped out at breakeven, though I think the pattern is still valid; I simply moved to breakeven a bit too early last time.

I'm set to go long here at 94.01, with my stop at 93.56 and my target profit at 96.11. I'm risking 55 pips to gain 210, which gives me a reward/risk just over 3.81.

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