We have a long opportunity on USD/JPY and the ideal entry would be at the level of 113.100 . Profit target is at 113.600 ( TP1) and from here we wait comfortably and watch/wait to strike our second target which should be situated at 114.250 (TP2)
For the stop loss I would suggest the level 112.750/800 ( SL) and take into consideration that the next strong support line is at 112.400
I will give an update of the trend in the coming hours.
Enjoy!
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STOPHi @deff I would like to see the result of this trade- USD was bearish for me as per the questionable CPI release- a lot of investors moved their capital to Asia during the build up to the release. Remember the US are below their 2% inflation target! Do you analyse across different timeframes?
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