Should price action for the USDJPY remain inside the 119.000 to 119.400 zone the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ 119.300
- Take Profit Zone: 117.300 – 117.800
- Stop Loss Level: 120.300
Should price action for the USDJPY breakdown below 119.000 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Short Position
- Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
- Take Profit Zone: 117.300 – 117.800
- Stop Loss Level: 120.300
Should price action for the USDCHF breakout above 119.400 the following trade set-up is recommended:
- Timeframe: H1
- Recommendation: Long Position
- Entry Level: Long Position @ 119.500
- Take Profit Zone: 120.000 – 120.500
- Stop Loss Level: 119.000
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
