USDJPY LOSS

USDJPY LOSS
17th February 2017 contacttf
The U.S. dollar/Japanese yen pair features low bid-ask spreads and exceptional liquidity. As such, it is a great pair to trade for newcomers to the forex market as well as an old favorite for more experienced traders.

Very poor entry and trade. I got caught being inactive, and tried a position which did not have clear support area.

I manually closed position before it hit my stop to minimise damage.

The Japanese economy is the leading economy in Asia and the world's second-largest national economy. Japan is a major exporter throughout the world. Because of Japan's large amount of trade with the United States, Europe, Asia and other nations, multinational corporations have a regular need to convert local currency into Japanese yen and vice versa.

After trade analysis
USDJPY went down a notch. The Doji formed and price bounced up. I did not take the trade because I cold not see support on the 1 hour chart.
Hoope to keep an eye on this.

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