USDJPY - Watch 112 for potential trend continuation short
My view remains consistent. USD will continue to be weak towards end of 2017.
This USDJPY brought me lots of agony 2 weeks back where I tried to short it twice but I got in too early.
I have since learnt to adopt a wider stop for my trades.
I do not need to keep my stop losses so tight since my winning trades are all in excess of 200 pips.
Going forward to Week 48, I will continue to look for short opportunities on USDJPY.
I expect USD to continue weakening and USDJPY to hit 108.20 in the coming weeks.
An upthrust to 112 with low/extremely high volume and a weak close will be my trigger to go short on this.
Stops will go above previous high at around 112.80.
EP 112
SL 112.80 (80)
TP 108.20 (380)
Do not use a pending order, I will keep you guys posted when it gets near my entry zone.
This USDJPY brought me lots of agony 2 weeks back where I tried to short it twice but I got in too early.
I have since learnt to adopt a wider stop for my trades.
I do not need to keep my stop losses so tight since my winning trades are all in excess of 200 pips.
Going forward to Week 48, I will continue to look for short opportunities on USDJPY.
I expect USD to continue weakening and USDJPY to hit 108.20 in the coming weeks.
An upthrust to 112 with low/extremely high volume and a weak close will be my trigger to go short on this.
Stops will go above previous high at around 112.80.
EP 112
SL 112.80 (80)
TP 108.20 (380)
Do not use a pending order, I will keep you guys posted when it gets near my entry zone.