USDJPY Postion Trades

Discussion in 'Forex Trading' started by chumbucket, Sep 27, 2007.

  1. I am currently long USDJPY at 115.55. Risk is a significant daily close below the hourly swing low at 115.10. I have three significant targets on this trade currently.

    Target 1 = 116.25
    Target 2 = 117.23
    Target 3 = 117.92

    If supply rejects demand significantly at these levels, I will cover and reset longs on a close above. Each of these levels has the potential to reverse direction down, so I will expect volatility at these levels.

    I will update as needed.