Short USDJPY – taking contrarian view with great R-R
I took a short at 118.70, Risk-Reward = 6.5
SL@ 119.10 (-40), TP@ 116.10 (+260)
____________________________________
what if:
a. BOJ does not pressure on Yen
b. ECB gives more uncertainty the next day and stocks tank,
then Yen could sour and USD should fall before Davos
- from technical point of view a pretty easy trade as there is a false breakout over 118.70 and the next real support is at 116.05
- the volatility during the BOJ Press Conference could be a problem, as my SL is very tight
________________________________________________________________________________________
Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
SL@ 119.10 (-40), TP@ 116.10 (+260)
____________________________________
what if:
a. BOJ does not pressure on Yen
b. ECB gives more uncertainty the next day and stocks tank,
then Yen could sour and USD should fall before Davos
- from technical point of view a pretty easy trade as there is a false breakout over 118.70 and the next real support is at 116.05
- the volatility during the BOJ Press Conference could be a problem, as my SL is very tight
________________________________________________________________________________________
Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.