USDJPY Daily
LONG
Entry Point: 78.00
Stop Loss: 77.00
Profit Target/s: 79.50
Reward-to-risk Ratio: 1.5:1
Risk percentage: 1%
Trade rationale: 78.00 is a major support/resistance level. I think it will hold because I don’t expect the Fed to announce QE3 yet.
Looks quite risky at the moment, cause after soft us data release, the USD is having a hard time recovering and even if this trade would work, you might have the risk of getting stopped out. I would wait for the USD to recover before enetering this trade, but overall a Good Idea! Good Lucks!
Nice idea. But I think this could be a trade idea for the next week with entry at 77 and TP at ur suggested levels of 79.5 with SL @ 76.
I beleive some sort of easing will be mentioned in Fed’s report today.
If you hold a position on this trade you were dead wrong
suicide mission?
