informedtrades
Long

Long Wicks on the Yen

FX:USDJPY   U.S. Dollar / Japanese Yen
194 2 2
Many yen pairs formed long wicks last week, and they've followed through with sharp rallies. As such, I've been eyeing potential entry points on these pairs. USDJPY             gave me a setup I'm most comfortable with, in that I'm long at 106.13 with my stop at 104.93 and my target profit is at 109.73. I'm risking 120 to gain 480, which gives me a reward/risk of exactly 4.0.

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exactly
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maybe right but UJ long has me very nervous.... the last top is not signalling a serious move up yet...and probably another low on the way...( mybe a double bottom, at least in my view)
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