USDJPY
Short Term Trade Idea for USDJPY
Play a long towards 109.37 (1st target), even 109.82 (2nd target).
Stop loss at 108.400
RSI indicator also holding above 40% support level.
Alternatively, if price breaks below 108.400, there presents an opportunity to short towards 107.75 (alternative target).
107.75 also happens to correspond to a key Fibo level.
Trade closed: stop reached
Trade closed: target reached:
So i reversed my trade the moment price crossed below 108.400.... Made a slight profit despite having my original trade make a loss.