justatrader
Long

USDJPY - Low risk longs

FX:USDJPY   U.S. Dollar/Japanese Yen
208 0 8
8-hr chart has the hidden divergence, while 4-hr is starting to build up a bullish divergence for 112.5

Watch how price reacts at 108 - 108.5 support (Expecting a touch and go). Also keep an eye on a possible higher low on the Stochs, compared to the 112.5 (lower) lows.

Trade invalidated on a daily close below 108.0 with some bearish PA on the 8/4 hr             charts.
8 & 4 hr             candlesticks near 108.5 - 108 should show enough PA to decide on the longs.
Also leave a small position for a longer term move to 114 & 117/118 on close above 112.5
Professional market analyst with a keen interest on futures. Love keeping an eye on the markets. Currencies, bonds, commodities. Combining technical analysis and the fundamentals. Contact me for more details.
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