Look for a potential pullback on FX:USDJPY . A lot will ride on the US GDP figures out later today. If there is a surprise in the figure and it comes in under expectation, then we will see this set-up take form. Keep an eye on this chart throughout the day to see if we get a break of 113.950. We will look to go SHORT at 113.940 with a target of 113.550.
STOP LOSS 114.400
Published on 10/27/17
Trade closed: stop reached:
Trade Initiated just beneath 113.950, with the better than expected GDP we saw a boost and our SL was too close.
Bummer - because the drop did come - if our stop was a touch higher - we would have been just fine.