Should price action for the USDJPY remain inside the 101.80 to 102.20 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 101.90
• Take Profit Zone: 104.70 – 105.10
• Stop Loss Level: 0.8890

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

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ Retracements in the trend; buy orders during dips
• Take Profit Zone: 104.70 – 105.10
• Stop Loss Level: 0.8890

Should price action for the USDJPY breakdown below 101.80 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 101.70
• Take Profit Zone: 100.70 – 101.00
• Stop Loss Level: 102.10

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

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