USDJPY – May 30th 2014

Should price action for the USDJPY remain inside the 101.50 to 101.90 zone the following trade set-up is recommended:

• Timeframe: W1
• Recommendation: Short Position
• Entry Level: Short Position @ 101.80
• Take Profit Zone: 91.60 – 92.00
• Stop Loss Level: 103.40

Should price action for the USDJPY breakdown below 101.50 the following trade set-up is recommended:

• Timeframe: W1
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 91.60 – 92.00
• Stop Loss Level: 103.40

Should price action for the USDJPY breakout above 101.90 the following trade set-up is recommended:

• Timeframe W1
• Recommendation: Long Position
• Entry Level: Long Position @ 102.10
• Take Profit Zone: 103.60 – 104.00
• Stop Loss Level: 101.30

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

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