Trading Forex is all about sighting opportunities & wait till we saw trend resumes and always consider whats happening on bigger time frames like weekly & Daily. Although, to make up for risk reward opportunities we should look at daily & h4 time frames and that is how we can make most of the trades by placing our stops and profit targets based on next important levels
USd/jpy is looking all set for breaking highs
Its almost two years since we saw any trend in usd/jpy as there were supports and resistances looking for hunting stops but now as far as opportunity is concerned, one is waiting to be taken. My entry and target for usd/jpy would be as follows.
First Target would 119.00
Once the target has bee reached we would look to add more at pullbacks and see the strength of trend and trail the profit and maximizing the profits with higher lots.