Second try to get USDJPY long in the next days:
USDJPY long idea:
long @ 118.85, SL@117.75 (-110), PT 121.60 (+275), R:R=2,5
- on 1d chart still strong UP-Trend, with price finding support at 20EMA
- 0.5 Fib-Retracement on the at 118.75
- strong, but today broken, between 118.80 and 119.00
- if price<117.75, it is below 20EMA on 1d chart, which I dont like to hold on a Long
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I try not to guess what is "the next move". I prefer to see what is the current major trend on the daily charts and to rejoin that trend on 4h4 or 1h charts. The huge pin bar on 4h chart gave me a good entry at 118.85 some hours ago. As long as Risk-Reward-Ratio is greater 1,9 and my new position is opened in the direction of the major trend on 1d chart, I dont really care about the next move. Hope that helps.