Should price action for the USDJPY remain inside the 114.500 – 115.000 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 114.750
- Take Profit Zone: 105.25 – 106.75
- Stop Loss Level: 117.750
Should price action for the USDJPY breakdown below 114.500 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: 105.25 – 106.75
- Stop Loss Level: 117.750
Should price action for the USDJPY breakout above 115.000 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 115.500
- Take Profit Zone: 116.750 – 117.250
- Stop Loss Level: 114.500
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
