Potential in Yen Strength - a return to 113, and then manage

Long

U.S. Dollar / Japanese Yen (FX:USDJPY)

Updated

FX:USDJPY U.S. Dollar / Japanese Yen

This is a long strategy in the Yen. You could see in the chart that the idea was to revert back to the mean in the central band. I typed some more info on the logic behind this trade in the comments section. I am still new to this website so there will be more improvement to come in time.

Comment:

12-15 pips of progress....Since I generated this first signal the USD/JPY lost roughly 15 pips, and in terms of progress that makes it about 20% of my objective. This pattern is a harami which has a tendency or resolving to the downside so as a swing trade, I am setting this up for a close on possibly Monday morning or Sunday night.

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