USDJPY – May 16th 2014
USDJPY – May 16th 2014
Written by: PaxForex analytics dept - Friday, 27 June 2014 0 comments
Should price action for the USDJPY remain inside the 101.30 to 101.60 zone the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Long Position
- Entry Level: Long Position @ 101.40
- Take Profit Zone: 102.70 – 102.90
- Stop Loss Level: 100.80
Should price action for the USDJPY breakout above 101.60 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: 100.80
Should price action for the USDJPY breakdown below 101.30 the following trade set-up is recommended:
- Timeframe: H4
- Recommendation: Short Position
- Entry Level: Short Position @ 101.20
- Take Profit Zone: 100.20 – 100.40
- Stop Loss Level: 101.70
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
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