_VincentP_
Long

USDJPY breakout and continuation of (new) bullish trend?

FX:USDJPY   U.S. Dollar / Japanese Yen
108 0 5
We have reached a bottom with following elements support a longer term bullish trend:
- Forming a possible double bottom
- RSI and stock aimed north
- A hammer formed at the bottom of the bearish trend and got confirmed by a large bullish candle.
- Fundamentally Japan is worse off compared to the US

Order has already been triggered at 112.95 with first target at 116-116.20. However, taking profit sooner might happen depending on how price reacts to 115 level that is a support level turned resistance and that even got retested but did not break.
Trade active: Trade is still active since 112.95 with STP at B/E + 10 pips. Still looking at 116 as TP.
Trade closed: stop reached: Stop reached at BE + 10 pips. Dollar remains weak against the yen which is very strange fundamentally. Awaiting better setup.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out