USD/JPY Trade Idea

Trading Systems
1

Pair: USD/JPY

Long or Short: Short

Entry Point: 79.00

Stop Loss: 79.50

Profit Target/s: 77.50

Reward-to-risk Ratio: 3:1

Trade Rationale: The pair has been in a downward channel since early March as seen in the daily’s chart, and has reached the top of the channel once again. Also with recent weak US data, i expect the pair to continue a downward move.

USD_JPY.jpg700×398 44.4 KB

2

Thanks for the signal
But already passed your stop loss level!!

4

Am I the only one who sees a flag pattern which is about to be the subject of a breakout any minute now? It’s on the 1 minute chart so probably not noteworthy.