USDJPY dollar weakness still lies ahead

Short

U.S. Dollar / Japanese Yen (FOREXCOM:USDJPY)

Updated

FOREXCOM:USDJPY U.S. Dollar / Japanese Yen

This set up shows a decent Reward/Risk Ratio as a good spot at previous resistance to short the $US. I like the Daily charts since there doesn't need to be much babysitting even though we might have to wait awhile like we did for the USDCHF trade to hit target.

Comment:

stalling at the 104.374 ray I put there on purpose. At this point it's up to the trader to decide if moving the stop-loss to B/E is better or hold until the take-profit to get maximum use of the Ratio

Comment:

Hit SL but looks like a tighter Stop should be considered on FX plays.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.