CalebDismuke

Another 400 pips in store?

FX:USDJPY   U.S. Dollar/Japanese Yen
A close above 104 puts 108 as the next target. The cross last traded this level in September but could not hold and sold off 400 pips down to the 100 level. Will this time will be d/f? We will see.

I am looking to buy dips around 104, stopping out below 102.80.

Break-even target-108
Enter trade at 104
Stop-102.80
400/120= 3.3 R/R.

Note-I do not automatically buy at these levels, it depends on the price action. These are just levels that I am watching.

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