Blue Point Trading - Long YEN

YEN currently building a big wedge and looks to go to the upper side of this wedge. Let’s try to get long on a small pullback. The risk-on trade keeps pushing equities higher and keeps banging on the breakout point to new highs. Hard to fight this trend, so the yen could benefit from this risk-on trade.

Entry: 102.25
Target: 103.45
Stop: 101.60

Blue Point Trading, William Thompson

i think the thread title is a bit misleading, as, judging from the post, it is long usd and short jpy

Yes perhaps, on futures it would be short, which is actually more correct. I was just using the more Forex view. So yes a bit confusing.

Though it came close to the stop. I am still in the trade and feel it still can work…more time.

Target hit … :59: