Should price action for the USDJPY remain inside the 103.60 to 104.00 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 103.90
• Take Profit Zone: 101.10 – 101.50
• Stop Loss Level: 105.20

Should price action for the USDJPY breakdown below 103.60 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: 101.10 – 101.50
• Stop Loss Level: 105.20

Should price action for the USDJPY breakout above104.00 the following trade set-up is recommended:

• Timeframe D1
• Recommendation: Long Position
• Entry Level: Long Position @ 104.10
• Take Profit Zone: 105.10 – 105.30
• Stop Loss Level: 103.60

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

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