Acc Risk: 0.7%
Stop: 113.33 (48 pips)
Target: 111.00 (185 pips, 4h500, 3.85x RR)
I’ve triangulated this trade in with the CADJPY and USDCAD. CADJPY I’m already short, USDCAD is into a reversal zone so therefore I should be short this divergence on the USDJPY. Let’s see how it plays out.
Stopped out on NFP results
I’m fine about being stopped out – I knew it was coming – I should probably get smarter about my stops. The reversal, if it sticks, seems quite predictable. Dollar index is diverging as it ran into the 4h500 and the Yen index is bouncing off a lower daily trendline. I’ve set a couple of alerts looking for a re-entry inside the bands.
USDJPY 4H Chart
DXY 4H Chart
JXY Daily Chart
Annoyingly this divergence has crossed the bands and doesn’t look like it’s going to retrace. 😐