USD/JPY: Daily Timeframe
Long or short: Long
Entry point: 76.10
Stop loss: 100 pips (75.10)
Profit targets: 77.75 and 80.00
Reward to risk ratio: 5.55:1
Risk percentage: 1%
Rationale: This is a purely technical trade. USD/JPY is moving closer to the bottom of its long-term range again and this could be a buying opportunity if support at 76.10 holds again. I’ll be aiming for the top of the range as my first PT and the next high as my second PT.