AmplaFX

UJ - Long Opportunity, 1:10 Available

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Good afternoon ladies & gents ,

A long opportunity has been identified on USDJPY . Despite UJ being in a bullish orderflow on both the Weekly & Monthly chart, the Daily Bullish structure, this means we should be conservative with this position.

A bullish reversal appears to be taking place, the buy structure created is clear.

I'm looking for price to swing down to this area below, where I'll have a BUY LIMIT in place with the objectives outlined above on the chart.

Objective 1: 1 : 3.5 RR

Objective 2: 1:8 RR

Objective 3: 1:10 RR

Scale out of your position along the way, remember to pay yourself.

Don't overleverage your positions, if you like and agree with this idea, enter it with a defined risk and do not move your stop loss.

Consistency in both execution and risk management will serve you in your route towards profitability.

Comment: Re-entry available with a stop @ 107.960.

Targets above remain intact.

Comments

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