fxstudent299
Short

Short USDJPY – taking contrarian view with great R-R

FX:USDJPY   U.S. Dollar/Japanese Yen
I took a short at 118.70, Risk-Reward = 6.5
SL@ 119.10 (-40), TP@ 116.10 (+260)
____________________________________
what if:
a. BOJ does not pressure on Yen
b. ECB gives more uncertainty the next day and stocks tank,
then Yen could sour and USD should fall before Davos

- from technical point of view a pretty easy trade as there is a false breakout over 118.70 and the next real support is at 116.05
- the volatility during the BOJ Press Conference could be a problem, as my SL is very tight
________________________________________________________________________________________
Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
SL moved to 118.40
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out