FX:NZDJPY New Zealand Dollar/Japanese Yen
This is probably the best trade set-up of the day for me in terms structure. The market has come back to test a resistance now turned support and at the same time completing a where there is a lot of structure looking left. The Risk:Reward ratio is more than 1:1 so let's hope for a winner.
Comment: Following my earlier post on this pair, the market has come down a little than i expected so I've adjusted my first profit target to 80.25, which is now less that 3 pips away. The reason for that is because the first target is always the .382 retracement of the CD leg and because the market has come in a little deeper then out profit target has to shorten.
Trade closed: target reached