Short USDJPY – looking for best short entry, TP 116.05

11 ene 2015

Trading idea on 4h chart:
Short USDJPY – looking for best short entry after NFP volatility

- After last Friday’s volatility, which was positive for USD on the first glance, but ended to be negative
for the USDJPY pair, I am looking to get short with the final target at about 116.00-116.20
- I like to rejoin the trend, which is down for me now (on 4h chart), on a retracement and a pin bar of
the time frame 1 level below the time frame, which I use to determine the major trend
- here it would be the 1h chart, which gives me the entry signal
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1. There are 2 scenarios for me (see my notations in the chart), so need to wait and see

2. If stoped out (should be a really small lose there), I would get another short position at about 119.50 (again on the close of a pin bar on 1h chart) with a SL 120.10 and still going still for the TP 116.05
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