[TW] 2012-9-10 Long USD/JPY by mynameisfez

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?