Should price action for the USDJPY remain inside the 101.20 to 101.50 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 101.30
• Take Profit Zone: 105.00 – 105.40
• Stop Loss Level: 99.80

Should price action for the USDJPY breakout above 101.50 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: 105.00 – 105.40
• Stop Loss Level: 99.80

Should price action for the USDJPY breakdown below 101.20 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 101.00
• Take Profit Zone: 99.50 – 99.80
• Stop Loss Level: 101.70

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 – May 21st 2014
• USDCHF – May 20th 2014
• GBPUSD – May 19th 2014
• Swiss people opposed the wage increase
• Why the forex market is different than other markets?