USDJPY – May 9th 2014

Should price action for the USDJPY remain inside the 101.40 to 101.80zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 101.50
• Take Profit Zone: 105.00 – 105.40
• Stop Loss Level: 100.30

Should price action for the USDJPY breakout above 101.80 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: 100.30

Should price action for the USDJPY breakdown below 101.40 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 101.20
• Take Profit Zone: 99.80 – 100.10
• Stop Loss Level: 101.80

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

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