Should price action for the USDJPY remain inside the 108.80 to 109.20 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position 109.00
• Take Profit Zone: 101.60 – 102.00
• Stop Loss Level: 111.60

Should price action for the USDJPY breakdown below 108.80 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: 101.60 – 102.00
• Stop Loss Level: 111.60

Should price action for the USDJPY breakout above 109.20 the following trade set-up is recommended:

• Timeframe D1
• Recommendation: Long Position
• Entry Level: Long Position @ 109.30
• Take Profit Zone: 111.60 – 112.00
• Stop Loss Level: 107.90

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

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