Long USDJPY
Mis à jour
I'm going long here just above 134 on USDJPY. I failed on two previous attempts around 133.63 (38.2 retracement) and got stopped out with much tighter stops. I still like USDJPY long currently based on a fundamental bias with COT data showing 63% of institutions are long USD and 83% are short JPY. In addition, US GDP and interest rates outweight the JPY.
From a technical standpoint, we have a fairly strong uptrend in play currently throughout 2023 with a nice channel showing some nice reactions along this slope. Specifically, we recently saw support hold around 134, and some bullish price action just below that around 133.50 with a break and retest back above 134. In my opinion, this is a bullish signal that could warrant a move back to 135 or 135.50.
I have a stop just below structure around 133.25 and I took two separate positions which I will plan to close half of at 135 and then trail stops on the remaining half.
Longer term view
Break and retest on on the 30m
From a technical standpoint, we have a fairly strong uptrend in play currently throughout 2023 with a nice channel showing some nice reactions along this slope. Specifically, we recently saw support hold around 134, and some bullish price action just below that around 133.50 with a break and retest back above 134. In my opinion, this is a bullish signal that could warrant a move back to 135 or 135.50.
I have a stop just below structure around 133.25 and I took two separate positions which I will plan to close half of at 135 and then trail stops on the remaining half.
Longer term view
Break and retest on on the 30m
Trade fermée: cible de profit atteinte
Price came down to just above my stop at 133.25! Huge pop overnight prior to US PCE data release. Closed out the full position this morning for +200 pips at 136, better than expected. 
Clause de non-responsabilité
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