Should price action for the USDJPY remain inside the 108.70 to 109.10 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position 108.90
• Take Profit Zone: 101.80 – 102.20
• Stop Loss Level: 111.20

Should price action for the USDJPY breakdown below 108.70 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 101.80 – 102.20
• Stop Loss Level: 111.20

Should price action for the USDJPY breakout above 109.10 the following trade set-up is recommended:

• Timeframe D1
• Recommendation: Long Position
• Entry Level: Long Position @ 109.20
• Take Profit Zone: 111.30 – 111.60
• Stop Loss Level: 108.00

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

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