Trading Idea: Long $USDJPY 13 JUL 2009

Posted on July 13th, 2009 in Trading Journal

I have a dream…I dream of Dollar rallying against yen. So I decided to long $USDJPY….

This is a swing trade idea. I see USDJPY approaching support area in daily and 4 hourly time frame, and it forms a long setup for me. I am watching closely, in fact, my long orders are waiting now. In addition, this setup is trying to capitalize from the indicators divergence observed as well. On the flip side, breaking below 91 level will negate my setup.

Here is the ….. CHART!

From the desk of Tradergav.com

Tags: FX, Trading Journal, USDJPY

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