Entering short term long USDJPY after cons conf numbers

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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K-man

Fundamentalist market maker, turned all round market taker.
Philosophy: “Cycling is good for your health, overtrading is bad”

Read how Koen got into trading here

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