USD/JPY - Short-Term-Trade
As we were mentioning earlier; we were waiting for a -BUY/SELL- confirmation. My overall prediction was to go -LONG- but I didn't have any entry confirmation. As we see that price has closed -BELOW- our Trend-Line on our 3 time-frames (1H - 2H - 4H) we have a pretty big confirmation for this trade to the down-side. I don't see my-self adding any other open positions. This may be the only position we will have open for this trade; unless we see a good re-entry opportunity.
Overall if we get +25 PIPS of profit we will naturally move our S/L into break-even. If price reaches our Minor Support area we will move our S/L into profit and so on and so on. We are expecting price to reach our -61.80% Fibonacci Level + Weekly Support area which is about +100 PIPS of profit. However; this is a Short-Term-Trade so we aren't getting TOO ambitious for this.
If everything would to start going south (maybe of possible news fluctuation) we will see if price closes -ABOVE- our trend-line indicating a Upside possibility. But as of right now we are confident about our down-side potential. Of what I have read of the upcoming news in a few hours it is expected to be bad for the US dollar which could help us reach our target but the end of today.
*This is NOT a signal. We are NOT responsible for any type of losses you may encounter. To take your trading to the next level feel free to email us at TheForexClubFXgmail.com
Overall if we get +25 PIPS of profit we will naturally move our S/L into break-even. If price reaches our Minor Support area we will move our S/L into profit and so on and so on. We are expecting price to reach our -61.80% Fibonacci Level + Weekly Support area which is about +100 PIPS of profit. However; this is a Short-Term-Trade so we aren't getting TOO ambitious for this.
If everything would to start going south (maybe of possible news fluctuation) we will see if price closes -ABOVE- our trend-line indicating a Upside possibility. But as of right now we are confident about our down-side potential. Of what I have read of the upcoming news in a few hours it is expected to be bad for the US dollar which could help us reach our target but the end of today.
*This is NOT a signal. We are NOT responsible for any type of losses you may encounter. To take your trading to the next level feel free to email us at TheForexClubFXgmail.com
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