My USD/JPY Trade (20-09-2007)

*Attached chart, click on it for the enlarged version.

Hello people. USD is really getting whacked upside, downside, sideways and all over the sides :P Hahaha!!! EUR/USD broke through the 1.4000 price line.

Anyway, today, I was looking at the USD/JPY. What attracted me to this particular pair was that I saw the Double-Top being formed and it is slowly crumbling right after. I was looking for any reason to initiate a trade on the downside.

Upon approaching 1:00pm(Singapore Time), market died for awhile and 1:00pm candle broke down. 2:00pm(Singapore Time) was my confirmation but I was still hesitant. I then initiated a short position on this pair at 3:20pm(Singapore Time), price line of 115.47. My stop loss at 115.75, target profit at 114.80(Near to the 200ma in my Hourly chart and 10ma in Daily chart).

My target profit was triggered at 10:25pm(Singapore Time). 67pips profit for this trade.

Peace and trade safely everyone :)