Thesis is that the December move down in dollar yen was a weekly reversal. Goal is to fade the current daily uptrend with the hope that this trend will resume, MAE for this setup around 112 but will look to reenter short unless there is a significant change in MS. Targets will be adjusted for further downside and will look to add to position if US equities or Dollar Index show weakness.
Trade active
Trade active:
Reopened here
Trade closed: stop reached:
Closed out Idea still valid until daily close above 112.5 will be looking to sell for a position trade throughout March