Should price action for the USDJPY remain inside the 115.000 to 116.000 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 115.250
- Take Profit Zone: 107.000 – 108.000
- Stop Loss Level: 117.000
Should price action for the USDJPY breakdown below 115.000 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: 107.000 – 108.000
- Stop Loss Level: 117.000
Should price action for the USDJPY breakout above 116.000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 116.500
- Take Profit Zone: 117.500 – 118.000
- Stop Loss Level: 115.500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
