OANDA:USDJPY   U.S. Dollar / Japanese Yen
USDJPY has closed the week down a neat trendline.
A bullish bar ( inverted hammer ) has appeared on the H4 timeframe and this is reflected also on the Daily timeframe (in the screenshot).

The trend seems clear and is still trading under the EMA , even if the macro factors driving the USD might probably come into the game mid week.
If we trade what we see, we can put a SL above Thursday's bar and let the SHORT position follow its trend down to the previous support of 111.89.
A simple 1:1 Risk-Reward-Ratio.

However, it has to be noted how the area around 113.72 provides a support that might make the price bounce again.
Maybe too linked to the USD news to take a position now, but worth watching to take a pice-based action later this week.

I always discuss and follow up these ideas on my blog.


Acceleration started!
Time to optimise our SL and TP levels!
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