[TW] 2012-04-02 AUD/JPY Long by donnapinciotti

AUD/JPY Long 4hour

Long or Short: Long
Entry Point: 85.00, 85.75, 86.50
Stop Loss: 84.25 (move 75 pips every 75 pip move in my favor)
Profit Target/s: 87.25 for all positions
Reward-to-risk Ratio: 6:1 combined
Risk percentage: 1%
Indicators used: none
Trade Rationale:
This is strictly a technical play. I’ve noticed that the pair was already trading near the major support level so I bought.
Trade Adjustments: I’m gonna move my stop loss and add another position every 75-pip move in my favor.