Long USDJPY @ 118.85

Entry: (2006.02.06 10:22 EST)
The Yen has been trading up since the beginning of the Asian session this week. The uptrend is solid and the trendline has been tested several times since last night (6 PM EST). I opened a long position this morning since the pair has been in a consolidation pattern for the past couple of hours and it should breakout above the 118.70-118.90 range. I have a stop-loss at 118.70 and a take-profit at 119.15. I also have a trailing stop 15 pips behind the price.

Exit: I let this trade run too long unattended. The Yen climbed up near my T/P but never actually made it. My trailing stop trailed up to 118.87 which is where I got stopped out when the pair fell later in the day.

+2 pips