Tuesday, July 14, 2009

USD/JPY Counter-Trend Opportunity




Although USD/JPY is in a long-term downtrend, there appears to be an opportunity for a counter-trend trade here, as long as it doesn't break below the 91.50 area.





If the price falls and forms some kind of reversal signal around the "kill zone" area (92.75 - 92.00), you're looking at a nice risk/reward trade:
Risk: ~50-125 pips
Reward: ~125-250 pips


No comments:

Post a Comment