3 ways to play this for $USDJPY:
1) Buy now with a tight stop loss around 118.50
2) Wait for the movement up to start before buying
3) Sell in the region 118.6-118.5
In case of 1 & 2 TP is the upper boundary of the channel above 120.50
in case of 3 first TP is around 117 region, however since it's $USDJPY we are shorting take care on being Long Yen, since there is tendancy for large volotile rebounds from lower levels, as players are keen to get better entries for the long term longs
My approach is 2, please trade responsibly
1) Buy now with a tight stop loss around 118.50
2) Wait for the movement up to start before buying
3) Sell in the region 118.6-118.5
In case of 1 & 2 TP is the upper boundary of the channel above 120.50
in case of 3 first TP is around 117 region, however since it's $USDJPY we are shorting take care on being Long Yen, since there is tendancy for large volotile rebounds from lower levels, as players are keen to get better entries for the long term longs
My approach is 2, please trade responsibly