The USD/JPY broke the H4 uptrend line earlier this week, and since then it was on a free fall. I went short too. However, I was expecting the price to find some kind of support around the 108.55, as it was the convergence point of the high and low from September 19 and September 23.
My strategy did provide a short signal but I initially set the profit target at 108.71, a tick higher than the intermediate support level at 108.70. Well, I could have kept the target all the way up to 108.55. Nonet…
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