USDJPY – March 31th 2014

Should price action for the USDJPY remain inside the 102.80 to 103.20 zone the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position @ 103.10
• Take Profit Zone: 102.20 – 102.40
• Stop Loss Level: 103.60

Should price action for the USDJPY breakdown below 103.20 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: 102.20 – 102.40
• Stop Loss Level: 103.60

Should price action for the USDJPY breakout above 103.60 the following trade set-up is recommended:

• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position @ 103.60
• Take Profit Zone: 104.40 – 104.80
• Stop Loss Level: 102.90

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:
EURUSD - March 28th 2014
USDCHF - Mrach 27th 2014
USDJPY - March 26th 2014
Why do forex traders lose money?
Investors are disappointed with statistics