USDJPY | Still a good short bet
Diupdate
I've been short USDJPY for sometime now (first position is about 200 pips higher than where we are now).
And Friday's price movements suggest I'm still on the right side. In fact, I can go a step further and look for new reasons to enter more short positions.
Retail Joe is, according to MyFxBook, 93% long on UJ. So we want to be short.
How to add a position in a trend? Easy. We wait for a retest of support, turned resistance. Think 107.70, and how a big old bearish candle rejecting that level sets you up for a new short. Nearly 250 pips still in it before serious buyers might come in.
And Friday's price movements suggest I'm still on the right side. In fact, I can go a step further and look for new reasons to enter more short positions.
Retail Joe is, according to MyFxBook, 93% long on UJ. So we want to be short.
How to add a position in a trend? Easy. We wait for a retest of support, turned resistance. Think 107.70, and how a big old bearish candle rejecting that level sets you up for a new short. Nearly 250 pips still in it before serious buyers might come in.
Trading ditutup: target tercapai
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