USDJPY – March 20th 2014

USDJPY – March 20th 2014

Written by: PaxForex analytics dept - Thursday, 20 March 2014 0 comments


Should price action for the USDJPY remain inside the 102.30 to 102.50 zone the following trade set-up is recommended:
  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position @ 102.45
  • Take Profit Zone: 101.00 – 101.30
  • Stop Loss Level: 103.10
Should price action for the USDJPY breakdown below 102.30 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: 101.00 – 101.30
  • Stop Loss Level: 103.10
Should price action for the USDJPY breakout above 102.50 the following trade set-up is recommended:
  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position @ 102.60
  • Take Profit Zone: 103.40 – 103.70
  • Stop Loss Level: 102.30
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.