USD/JPY Price Action Analysis | Waiting the Retest
Dollar has found a support at the Range Low against Japanese Yen. Although, it is still stuck between the Range and the OB. So, in order to get in a safe position, waiting for the breakout and longing the retest would be the wise thing to do.
Entry: 107.11
SL: 106.39
TP-1: 107.99
TP-2: 108.64
R/R: 2.13
Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.
The ideas published here are not financial advices.
Entry: 107.11
SL: 106.39
TP-1: 107.99
TP-2: 108.64
R/R: 2.13
Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.
The ideas published here are not financial advices.
Trade active:
Break out has happened and longed the retest.
Comment:
This needs to close above 107.15 to show strength.
Trade closed: target reached:
First profit is taken, waiting for the next.
Trade closed: target reached:
Rest of the position is also closed at the current level (1.44) due to daily and weekly close below Range High. 133 pips of total profit is taken.