justatrader

USDJPY - Looking to re-buy

FX:USDJPY   U.S. Dollar / Japanese Yen
332 3 4
I noticed some websites that I visit calling for a USDJPY             short. Today, I think Bloomberg had a story on Yen strengthening on Ebola positive patient in NY. These news outlets tend to make a 'big news' out of everything just to fill their pages.

Technically, I only see strong support at 107.85 (even before the news was out).

Price is currently making a correction, although the bullish flag is not entirely strong. That said, i'd be looking to enter a new position at 107.85 subject to some bullish candlesticks which appear at the support level .

From the previous analysis, I closed most of my trades at 107.85 and have a small position trading at +ve pips + BE. So if I go long at 107.85, my risk will be equal to the profits on the open trade, so worst case, I get out with 0-risk.

Goal of this analysis is basically to push the potential of profiting to the max having already banked some decent pips.
Exited positions... Calling it a week.
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Entered at 108.101. Upward resistance is 108.295. if this clears, then its back to targeting 108.75.
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excellent
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