6-Month USDJPY Break-Out Trading Plan.
So here we go, the big break-out we've been waiting for - or is it? Let's assume that the USDJPY pair continues it's upwards march towards it's June 2015 high, we're then looking at 3-6 months worth of upwards movement and thousands of pips.
To enter such a series of trades, we need to start with a good entry zone. In this case, TA shows that somewhere back below the 111.000 region would be perfect, however this could also mean a total reversal of the "break-out" and resumption of the downwards trend.
Somewhere during the beginning of 2019, TA shows that we can expect an event to occur near the 38.2% weekly Fibo line. This may be a strong re-test of the support, or even a downwards breakout.
Expect TP's as high as 124.000 to 126.00 region. MANY updates to follow.
To enter such a series of trades, we need to start with a good entry zone. In this case, TA shows that somewhere back below the 111.000 region would be perfect, however this could also mean a total reversal of the "break-out" and resumption of the downwards trend.
Somewhere during the beginning of 2019, TA shows that we can expect an event to occur near the 38.2% weekly Fibo line. This may be a strong re-test of the support, or even a downwards breakout.
Expect TP's as high as 124.000 to 126.00 region. MANY updates to follow.
Comment:
4-hour Doji formed just underneath the Buy Zone line. Awaiting buy confirmation.
Trade active:
Short-term buy now active.
Comment:
TP: 112.200
SL: 110.250
TP: 112.200
SL: 110.250
We're now closer than ever to the buy zone.