Active trade. Sell @ 109.563 SL=110.75, TP=106.48
A close above 110.62 would invalidate this trade and could indicate a buy. Close above 112 would definitely indicate a bias.
FYI - lower charts (4h or lower) still have ST trend up. More conservative entry would be to wait till break of 109.30 and confirmation of move down. There is a possibility of USDJPY retesting resistance. If that occurs, a better entry could present itself.
The LT trade is still active, but i have adjusted my SL (see chart). With the SL adjustment, this trade will be profitable even if my SL is hit.
I will consider adding to my position if it pulls back ~110 after a reversal or bearish candle on 1hr chart. I would still consider this an aggressive entry point with a favorable R/R. I will also add at a more conservative entry which would be following Dn Trend confirmation on 1hr chart.
To clarify: At current price up to 110.55, I will consider opening another ST trade (versus adding to my LT position) following a reversal or bearish candle completion on 1H chart.
Entered another ST short trade. Using profits already gain to make this a "free trade". If trade goes against me and SL is hit, the cumulative trade will still be slightly net positive.
Will reevaluate and wait for a better opportunity.