USDJPY – June 4th 2014

Should price action for the USDJPY remain inside the 102.50 to 102.80 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 102.70
• Take Profit Zone: 100.90 – 101.20
• Stop Loss Level: 103.60

Should price action for the USDJPY breakdown below 102.50 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 100.90 – 101.20
• Stop Loss Level: 103.60

Should price action for the USDJPY breakout above 102.80 the following trade set-up is recommended:

• Timeframe H4
• Recommendation: Long Position
• Entry Level: Long Position @ 103.00
• Take Profit Zone: 103.90 – 104.10
• Stop Loss Level: 102.50

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

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