Should price action for the USDJPY remain inside the 103.60 to 103.90 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 103.70
• Take Profit Zone: 100.80 – 101.10
• Stop Loss Level: 105.20

Should price action for the USDJPY breakdown below 101.60 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: 100.80 – 101.10
• Stop Loss Level: 105.20

Should price action for the USDJPY breakout above 101.90 the following trade set-up is recommended:

• Timeframe D1
• Recommendation: Long Position
• Entry Level: Long Position @ 102.00
• Take Profit Zone: 103.20 – 103.50
• Stop Loss Level: 101.30

You may also be interested in reading the others forex recommendations. Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.