Should price action for the USDJPY remain inside the 105.60 to 106.00 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 105.80
- Take Profit Zone: 109.40 – 109.80
- Stop Loss Level: 104.00
Should price action for the USDJPY breakout above 106.00 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ Retracements in the trend; buy orders during dips
- Take Profit Zone: 109.40 – 109.80
- Stop Loss Level: 104.00
Should price action for the USDJPY breakdown below 105.60 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 105.50
- Take Profit Zone: 103.60 – 103.40
- Stop Loss Level: 106.50
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
