USDJPY – April 25th 2014

Should price action for the USDJPY remain inside the 102.05 – 102.20 zone the following trade set-up is recommended:

• Timeframe: M30
• Recommendation: Long Position
• Entry Level: Long Position @ 102.20
• Take Profit Zone: 102.60 – 102.75
• Stop Loss Level: 101.90

Should price action for the USDJPY breakout above 102.20 the following trade set-up is recommended:

• Timeframe: M30
• Recommendation: Long Position
• Entry Level: Long Position @ Retracements in the trend; buy orders during dips
• Take Profit Zone: 102.60 – 102.75
• Stop Loss Level: 101.90

Should price action for the USDJPY breakdown below 102.05 the following trade set-up is recommended:

• Timeframe: M30
• Recommendation: Short Position
• Entry Level: Short Position @ 101.90
• Take Profit Zone: 101.40 – 101.50
• Stop Loss Level: 102.05

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.

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