Low Risk On USDJPY Long - Soon at 114.500 ?
Hey Traders hope everyone has a good start of the week,
we are starting strong over here with a long trade on USDJPY. Pulling out our Fibonacci from the last low to the high we see price clearly bouncing back from the 0.61 key level. This is the level where we enter with a very low risk, because there is no level behind this. Another reason is that we are looking at a real longterm uptrend and price retraced the 2rd time (mentioned in the two blue boxes) at this point. First take profit for this trade will be the last high at 113.200 and another one even higher at 114.500.
Lets start this week strong.
we are starting strong over here with a long trade on USDJPY. Pulling out our Fibonacci from the last low to the high we see price clearly bouncing back from the 0.61 key level. This is the level where we enter with a very low risk, because there is no level behind this. Another reason is that we are looking at a real longterm uptrend and price retraced the 2rd time (mentioned in the two blue boxes) at this point. First take profit for this trade will be the last high at 113.200 and another one even higher at 114.500.
Lets start this week strong.
Trade active:
Holding this long.
Comment:
Price comes near take profit.
Trade closed manually:
Just closed the trade with good profits.