USDJPY STRUCTURE LONG|RISK-REWARD 2:1|

The pair has broken out of the long term diagonal resistance, and has successfully retested it.

Now, it is moving along the diagonal support line, aiming to retest the horizontal resistance.

There is a relatively weak resistance in the red, that the price is in right now, so the probability is less than 50%, but the risk reward is 2:1 so go with 0.7% of the deposit.

here is what it looks like on 1H

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Kommentar:

Target 1 reached. Diagonal support broken. Setup no longer valid. Trade closed.