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davidleekuanyong

Is USDJPY starting an uptrend or consolidating?

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
davidleekuanyong Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY
1
2
usdjpy
USDJPY failed to create a lower low after 108.125. Shall prices able to break 109 level, I believe it may start an uptrend. First uptrend target is 109.845 while second target is 110.256. Support is pegged at 108.679.

This is not a buy/sell call. Trade at your own risk.
Comment:
the market has hit 110.256 before retracing lower. Based on the latest price action I believe USD/JPY still has room to rally. First target will be the 110.256 while the second target will be 110.829 (78.6%)
Comment:
market currently at 110.371. I adjusted by trailing stop to 109.300
Comment:
closed position at 110.379.
Trade closed: target reached
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