See daily chart of USDJPY below for the discussion that follows.
USDJPY broke out of a range this passed week. I will be looking to trade either the support (prior resistance) or resistance level as indicated on the chart – whichever comes first. I will also have to see confirmation in terms of candlestick price action.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading / financial advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
