Will Duxon
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Long USDJPY
![USDJPYH1-Long.png USDJPYH1-Long.png](https://www.trade2win.com/data/attachments/118/118794-d1fdd3aefb985a6924f8261e15d38dbd.jpg)
![USDJPYH1StoppedOut.png USDJPYH1StoppedOut.png](https://www.trade2win.com/data/attachments/118/118814-13c7cc07288ff3f8fd61f5913b56da20.jpg)
The fast and intermediate envelopes seem to be offering support at this level. The longer-term envelope is arguably neutral, and this is all perhaps reason enough to enter a long position.
Looking back over the past few days, there seems to be a lot of "noise" right around the 102.05 handle, so that's where I felt comfortable placing my take profit target.
RESULT: Though it might have been "arguable" that the longer-term envelope was neutral, undeniable it clearly was not. Though I was stopped out (see second chart above) I will still be interested to see if price continues south, or if the pair just made a "last hurrah" of sorts, especially since price was rejected when it tried to fall below this level (101.80) on the 15th and 16th.
![USDJPYH1-Long.png USDJPYH1-Long.png](https://www.trade2win.com/data/attachments/118/118794-d1fdd3aefb985a6924f8261e15d38dbd.jpg)
![USDJPYH1StoppedOut.png USDJPYH1StoppedOut.png](https://www.trade2win.com/data/attachments/118/118814-13c7cc07288ff3f8fd61f5913b56da20.jpg)
The fast and intermediate envelopes seem to be offering support at this level. The longer-term envelope is arguably neutral, and this is all perhaps reason enough to enter a long position.
Looking back over the past few days, there seems to be a lot of "noise" right around the 102.05 handle, so that's where I felt comfortable placing my take profit target.
RESULT: Though it might have been "arguable" that the longer-term envelope was neutral, undeniable it clearly was not. Though I was stopped out (see second chart above) I will still be interested to see if price continues south, or if the pair just made a "last hurrah" of sorts, especially since price was rejected when it tried to fall below this level (101.80) on the 15th and 16th.
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