bradlaguna
Short

Possible USD/JPY Retracement

FX:USDJPY   U.S. Dollar/Japanese Yen
4 months ago
Observation:

1) The UJ pair has moved up aggressively. Price is approaching a strong resistance and a correction is coming.
2) The TS             has crossed the KS line.

Recommendation:

1) An aggressive strategy would be to short the pair now and set your stop above last month's high of around 106.8
2) For a more conservative (safe) strategy, wait for a kumo twist and the price to close finish below the cloud before making a short move. Set stops below the previous high and adjust accordingly.

Good luck and happy trading!
4 months ago
Comment: TRADE CLOSED. Trade is stopped out for me. The uptrend continues, although it's losing momentum. Going to keep monitoring this and expecting a retracement soon.

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bradlaguna
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