Trade Update - USD/JPY Long CLOSED

Update 04-04-08 7am:
The strengthening of the Yen overnight stopped me out of this trade. There were couple of things I could have done better in this trade. First, I could have placed the stop loss point to be just below the 34 SMA line on entry instead of below the low of the previous candle. Since my entry point was close to perfect, this could have limited my loss when the signal reversed. Chart below shows what I mean.


Second, today being NFP day, I should not have been holding any Dollar positions. Its a major news event, and we know there aren't too many good news for the US economy at the moment.

Total Pips: -362
Total Profit: $355.17

The Trade:
Going long the USD/JPY pair.

System:
The trade is based on the Elite setup on 1 hour chart.

Reason:
As in my previous trade, its purely technical and based on the Elite setup. The 3 EMA has crossed over the 34 SMA and the 34 CCI has crossed above 0.


Rating:
Again this trade was entered perfectly as soon as the crossover occured. So I would rate this trade a 5 star. The only rish is that tomorrow is NFP day, and I need to get out of the trade by then. But I am looking for just a 20 pip profit. The stop loss has been placed below the lows of previous candle.

Entry & Exit:
Lots: 10
Entry (long): 102.573
Stop Loss: 102.210
TP: 102.773