USDJPY Breakdown from Overextended Move

11 Kas 2015

I think the USDJPY is a bit overextended, and due for if anything a small retracement.
Two short entries, as outlined, are used because 123.04 is not very strong resistance.

1st entry is half as large as 2nd.

Target is a trendline as outlined, Target 2 perhaps the 20 or 50 EMA TBD

12 Kas 2015

İşlem kapandı: hedefe ulaştı

This trade went very well, with a profit of approximately 40 pips. The price didn't reach the second entry target, but neatly broke out of the channel and to target