Should price action for the USDJPY remain inside the 117.500 to 118.00 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 117.800
- Take Profit Zone: 105.200 – 109.200
- Stop Loss Level: 120.000
Should price action for the USDJPY breakdown below 117.500 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
- Take Profit Zone: 105.200 – 109.200
- Stop Loss Level: 120.000
Should price action for the USDJPY breakout above 118.00 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 118.200
- Take Profit Zone: 119.700 – 120.00
- Stop Loss Level: 117.500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
