Defined R/R makes it worth a go

I bought ,smaller than the eurusd position ,USDJPY at 113.08 this morning with a target at 114.40 and a rather tight stop just under 112.70.

  • Risk reward looks good with the USD being buoyant
  • Geopolitics seems a bit quieter
  • Chewing through the reported 113.00/15 exporter offers, high so far 113.20
  • Japan’s opposition divides itself into the 22nd October elections
  • Consumer confidence rises, positive risk correlation

USDJPY H1 03.10.2017

USDJPY D1 03.10.2017

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