Long or Short: Long
Entry Point/s: 80.20
Stop Loss: 79.90
Profit Target/s: 81.00
Reward-to-risk Ratio: over 2.6:1
Risk percentage: 1%
Indicators used: Fibionacci
Trade Rationale:The USD/JPY seems to be forming a triangle. Drawing Fibionacci, it looks like it could find support at the 61.8% Fib level. ON the findamentals, I think the market sentiment, which seems to be dollar bullish, would continue.
Trade Adjustments: I’m gonna add another position when price breaks the resistance at 81.00