"USD/JPY" by WrecklessTrader in Dukascopy Forex Community
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USD/JPY

The price was moving toward the Resistance 113.38 and felt it will react from there back to pivot point. Hence placed an order near to Resistance and take profit near to 113.00

As the market moves JPY will be bit volatile and will head down as I have that has been the behaviour of this pair. Stochastics, CCI moved into overbought zones and MACD will in the same zone soon. 1 Hour and 4 Hour charts confirm the same. A price reaction will happen downwards, a clear 30-50 pips movement.
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WrecklessTrader avatar

When the trade moved into profit area, I moved the stop loss also into a profit zone. Market again moved in the opposite direction and triggered the stop loss.

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