If You Miss the Train, Wait for the Next One...

A great early lesson on the frustrations of being patient. It looks like I missed a relatively small move in the USD/JPY, about a 50 pip move. The pair never retraced enough for me to pull the trigger and go long. The fact that USD/JPY was trading very close to it's 100 and 200 day EMA off the hourly chart made me picky and hesitant enough not to "chase" this pair. Although the pair has moved higher without me, it certainly didn't "run away." I'm still bullish for the near-term (maybe the rest of the week).

I labeled two different support levels, 92.48 and 91.70. If USD/JPY retraces back into the "Kill Zone," but doesn't fall below 91.70, then I'll go long.