Technician
Long

USDJPY: Bullish Bounce Likely!

FX_IDC:USDJPY   US DOLLAR / YEN
1400 4 21
Update: Trade is active
Update: Stopped Out

I am looking for a bullish rebound within the context of the overall bullish trend .

  • The price formed a major long-legged doji candle today
  • 50-day SMA acting as support
  • 38.2 retracement level is holding
  • Rising trend line acting as support

Thank you for reading , be one of the first members of my new trading portal, check my new website http://thefxchannel.com/ , vote and subscribe. Thank you

Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
https://twitter.com/thefxchannel
https://www.facebook.com/thefxchannel
https://plus.google.com/%2BThefxchannel0
My best regards
Technician
My trading ideas channel https://telegram.me/technician_forex_trades

Get your gift : https://thefxchannel.com

Skype: Technician - The forex channel
HI technician thanks for post but I think there is bearish divergence at daily chart and weekly chart
snapshot
Reply
If Nikkei reverses this idea won't work...I am aware of the dollar strength accross the board, after a correction, but Yen is a particular case. Good luck though.
+1 Reply
Update: Trade is active
-1 Reply
Stopped Out. Damn this week
-1 Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out