USD - JPY Short-term Buy
Short term buying opportunity following the volatile movements of USD / JPY recently.
I'm personally expecting retail traders to back some bullish retracement back to the 0.5 Fib Level in order to break even and perhaps further.
RR of 2.2. Remember to never expose more than 1-3% of your account in any trade as the market can be unpredictable at the best of times.
This assumption of price movement is backed by the 1h Stochastic Indicator which was and is close to oversold giving it a buying bias.
Be aware this is merely Technical Analysis and doesn't offer huge probability overall but enough to warrant a trade with a good RR.
I do not expect the full trade to be realized before the weekend so be prepared to sit on an outstanding unrealized profit or loss over that 48 hours.
Hope this helps anyone and can generate intra-day ideas.
Opinions welcome in comments as usual.
I'm personally expecting retail traders to back some bullish retracement back to the 0.5 Fib Level in order to break even and perhaps further.
RR of 2.2. Remember to never expose more than 1-3% of your account in any trade as the market can be unpredictable at the best of times.
This assumption of price movement is backed by the 1h Stochastic Indicator which was and is close to oversold giving it a buying bias.
Be aware this is merely Technical Analysis and doesn't offer huge probability overall but enough to warrant a trade with a good RR.
I do not expect the full trade to be realized before the weekend so be prepared to sit on an outstanding unrealized profit or loss over that 48 hours.
Hope this helps anyone and can generate intra-day ideas.
Opinions welcome in comments as usual.
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