$ yen

I have selected the $ yen forex pair for my next trade.I am still watching the cable and sterling yen with interest. There is inflation numbers coming out of the UK this morning.

In the above chart of $ Yen, a daily view is shown .On the daily a falling wedge to a 38% retracement in evident. There is also a reverse divergence which is a part of my Eva Mendez setup.

I have had some confirmation that support is going to hold from the hourly chart .

I am going long the $ yen at market. I have got a price of 90.57 as i write. I have placed a protective stop 100 points below at 89.57 . As the stop is wide i am trading this in 1/3 size. This means i am risking 33 full points on this trade.

The initial target is 92.30 and the final objective is 95.00

Good trading