I has already shared my opinion about USDJPY market at the beginning of this week, an this idea is quite profitable for me today. Follow me for getting more valuable ideas :) Now we have one important trend line broken and it gives opportunity to open some very safe positions, with TP/SL coefficient around 6. I have added to my position and see 2 goals here - Moving Averages and the old one - weekly trend line. My plan is to close half on each. In the MAs area I am going to turn my trailing stop on (500 points). In the case of SL and turning up again I will reopen. Anyway I'll post my progress on this idea.
i dont think will last so long the correction. USD is a genuine toilet paper currency. It may soon resume the down-fall!
ArtKon
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@BusinessInMotion, I think we should very careful on current type of market. With the current bond yields, the dollar would be at least supported. Take care!