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Usdjpylongtrade

USDJPY looking to the next weeks open.Here is another Forex Trading snack. I know it’s Friday and late in the trade day by Friday’s standards, but it’s never to late to strategize and plan for a new weeks open trade. USDJPY has run up and started to show signs of slowing a bit. This could just be a rest before another push higher. Evidence that it might go higher early next week... Friday’s trade hasn’t seen traders taking profits ahead of the weekend. Not much of a pull back in price. ( but we could still see some as we head into Friday’s close in NY ) Price is still above the 21, and 50 moving averages on the 4H We are still above a Downward sloping channel trend line, and so holding the breakout of the channel, but more importantly still holding above the key 107 area that held price under it for quite sometime. And so I’d think any retraces would be bought. I’d be a buyer at or around 107.50-107.80 My stop just under according to risk tolerances. My targets 108.50-109.50 If you chose to trade this idea, you assume all risk of loss., In trading you either make dust or you eat dust! All the best
Long
by PipsTradingClub