USD/JPY Long

Trading Discussion
1

Good setup for next week riding the overall uptrend in USD/JPY. It’s on the 4-Hour, so it’s going to take some days to materialize.

USD/JPY, 4-hour

usdjpy.jpg700×373 28.6 KB

Entry: 94.00
Stop Loss: 93.00
Profit Target: Trail it by 100 pips.
Indicators: 100 SMA and 200 SMA

Notice that price is starting to pull back now. I think the overall uptrend will hold, especially as U.S. fundamentals get better.

2

Agree with you. This is the set up I was waiting since long time. 94.00 area will be a best place to jump in the uptrend. We can aim for a TP @ 98.00 along with Trailing Stop.