rarewalt
Long

USDJPY (Long thesis on a weekly chart)

OANDA:USDJPY   US-Dollar / Japanischer Yen
I like USDJPY             long here as long as it holds the support level and respects the trendline on the weekly chart. My first TP would be around 113.500 and my next TP would be at 118.500. This is a long term trade which could ultimately take weeks to months to play out.

I like trading low risk high reward set ups and this chart in particular make sense as a swing trade.

Remember, trading is not about being right or wrong, it is about making money. So if we break below and close below the trendline and prior support, I will have an open mind and look to flip to the other side of the trade.
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