Should price action for the USDJPY remain inside the 117.000 to 118.000 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 117.500
- Take Profit Zone: 103.750 – 105.250
- Stop Loss Level: 119.000
Should price action for the USDJPY breakdown below 117.000 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: 103.750 – 105.250
- Stop Loss Level: 119.000
Should price action for the USDJPY breakout above 118.000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 118.250
- Take Profit Zone: 119.500 – 120.000
- Stop Loss Level: 117.500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
