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.

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