This is a brief update on a trade setup I posted earlier this week.
USDJPY has fallen to a critical long term level with significant historical support coinciding with a fib level.
(WEEKLY)
I'm taking a small long position here with a fairly tight stop loss purely based on the technicals as there isn't much event risk on the docket to challenge the chart.
Planning to ride it to top of regression channel (see 4 hour chart); If we break the channel in a significant way, I may add to position.
(4 Hour)
