Does USDJPY have the legs to move further, i cant see it.
Hello Traders,
I have opened a short on the USDJPY pair, i feel that on the daily charts the struggling to break the 109.70 zone.
We have a long term resistance starting from OCT 18 and i just cant see it breaking through, unless we get some very good economical data or trade deal news with China i can see this pair falling.
I feel even with good news, that we wont see past the 110.45 region and i would be looking to re enter here if my trade stops out.
My entry was at 109.45
T/P 108.75 (although i see potential for further profits to the 108.45 zone, i may close some of my trade and let the rest run if the pair heads south)
S/L 109.75
I am very bearish on this pair and feel that over the coming months into Q2 of 2020 the 104.75-105.00 region would be my target.
Always prepare for all outcomes,
Safe trading people.
I have opened a short on the USDJPY pair, i feel that on the daily charts the struggling to break the 109.70 zone.
We have a long term resistance starting from OCT 18 and i just cant see it breaking through, unless we get some very good economical data or trade deal news with China i can see this pair falling.
I feel even with good news, that we wont see past the 110.45 region and i would be looking to re enter here if my trade stops out.
My entry was at 109.45
T/P 108.75 (although i see potential for further profits to the 108.45 zone, i may close some of my trade and let the rest run if the pair heads south)
S/L 109.75
I am very bearish on this pair and feel that over the coming months into Q2 of 2020 the 104.75-105.00 region would be my target.
Always prepare for all outcomes,
Safe trading people.
Trade active:
So we got the main thing correct, the direction of the pair.
This is now a risk free trade with my S/L moved into profit, if the original entry point is re tested and fails I will be re entering the same short trade but with my T/P moved into the 108.50 zone as a another failure to break 109.70 would result in a rapid decline in my opinion.
All in all a good day at the office.
Trade safe and prepare for all outcomes.
This is now a risk free trade with my S/L moved into profit, if the original entry point is re tested and fails I will be re entering the same short trade but with my T/P moved into the 108.50 zone as a another failure to break 109.70 would result in a rapid decline in my opinion.
All in all a good day at the office.
Trade safe and prepare for all outcomes.