USDJPY – June 12th 2014

Should price action for the USDJPY remain inside the 101.90 to 102.20 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position @ 102.00
• Take Profit Zone: 102.70 – 102.90
• Stop Loss Level: 101.70

Should price action for the USDJPY breakout above 102.20 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: 102.70 – 102.90
• Stop Loss Level: 101.70

Should price action for the USDJPY breakdown below 101.90 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 101.80
• Take Profit Zone: 101.00 – 101.30
• Stop Loss Level: 102.20

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

You may also be interested in reading the following posts:

• Gold – June 11th 2014
• EURUSD – 10th 2014
• PaxForex starts June with 60 pips
• Dynamics of developing countries still indicates a weakening of growth
• Forex trend trading