Xin

Take longs from the base of the channel

FX:EURJPY   Euro Fx/Japanese Yen
117 0 0
The play is here is the channel -> Although it's a sliding channel the major disruption or breakout should be resolution in the US budget/debt ceiling.

So in this case we'll buy the lows of the channel and take profit each time we reach the channel top. In the case of US resolution hold the trade and TP at 134-135 levels.

*Important note should we reach 16/17th of this month and still be in the channel without resolution Take Profit/reduce holdings and we may breakout lower on fear of no resolution in time before default.

** I've been trading this since Tuesday and it's been very profitable approx. @120pips a trade so I thought I'd share it.
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