Should price action for the USDJPY remain inside the 106.90 to 107.30 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @107.20
• Take Profit Zone: 101.40 – 101.80
• Stop Loss Level: 109.20

Should price action for the USDCHF breakdown below 106.90 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: 101.40 – 101.80
• Stop Loss Level: 109.20

Should price action for the USDJPY breakout above 107.30 the following trade set-up is recommended:

• Timeframe D1
• Recommendation: Long Position
• Entry Level: Long Position @ 107.40
• Take Profit Zone: 109.20 – 109.50
• Stop Loss Level: 106.40

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:

• Gold – September 11th 2014
• GBPUSD – September 10th 2014
• USDCHF – September 9th 2014
• The rise of retail foreign exchange
• Why trading forex is not for everyone