A long opportunity has been identified on USDJPY. Despite UJ being in a bullish orderflow on both the Weekly & Monthly chart, the Daily Bullish structure, this means we should be conservative with this position.
A bullish reversal appears to be taking place, the buy structure created is clear.
I'm looking for price to swing down to this area below, where I'll have a BUY LIMIT in place with the objectives outlined above on the chart.
Objective 1: 1 : 3.5 RR
Objective 2: 1:8 RR
Objective 3: 1:10 RR
Scale out of your position along the way, remember to pay yourself.
Don't overleverage your positions, if you like and agree with this idea, enter it with a defined risk and do not move your stop loss.
Consistency in both execution and risk management will serve you in your route towards profitability.