Looking to go long on USDJPY with a gain of just under 3%

19 mar 2017

USDJPY – 19/03/2017
4H

• The value of trading trend channels is that the trader can trade short term, or look for a breaking of the trend line. Be wary of intraday breaks and fakeouts.
  Point 3 the trendline was violated on an intraday basis but then closed in the direction of the original trend.
  
• The RSI is also supporting this analysis of a bounce.
  
• Looking to gain just shy of 3% on this trade