USDJPY in the area of 50% Fib retracement, from January's highs and @ 61.8% from Aprils highs - could be a good place to enter short trade. we do have break of trend line but luck of real volume or rather low volume suggest that buyers are not interested in buying at this level - more likely profit taking. RSI overbought, pair in strong resistance area. Would be care full before tomorrows BOJ Kuroda speech and NFP - enter trade maybe after NFP incase we get spike above 103. Trade has got good RR ratio - for more conservative approach SL somewhere above 104.50, for more aggressive RR ratio SL somewhere around 103.50
Got into this way too soon at avg. 102.77, got almost maxed out when touched over 103, hopefully the short will hold this time you speak in this idea
ArekJP
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Hey, as i said it maybe best to enter trade after Kuroda speaks and after NFP. if you really wants to enter before or you are already in - try to keep it very small position so you risk only 0.5%-1% of your account - you can always add on to increase your position.
Good luck!
KSK
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Thanks! Will take this advice with me to my next trades. For this so far doing well luckily. Already risking the lot, but the green is starts from 102.75, been touching it ever so slightly here and there. If it'd just hold this trend now..