Looking to go long on USDJPY with a gain of just under 3%
USDJPY – 19/03/2017
4H
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