USDJPY Trading Idea
USDJPY Price forecast
The USDJPY pair has maintain a bullish stance since the beginning of the month surpassing high after high after declining from the same level it is now trading last month.
The short-time analysis is showing that for the moment bulls are taking a break from the rally and the bears might intervene due to the struggle to extend gains on the market. Furthermore, the pair continues to find support in the 20-day Simple Moving Average, which is showing us that this movement might be just a correction.
This trade is suitable for swing trading.
Entry points : around 111.4xx
Target price : 110.8xx
Stop Loss : tight, 111. 7xx
Please be aware of the fact that this trade will be taken under the most favorable circumstances and can be altered without prior notice. Only take this trade if it suits your trading plan and furthermore, your strategy.
Stay safe !
The USDJPY pair has maintain a bullish stance since the beginning of the month surpassing high after high after declining from the same level it is now trading last month.
The short-time analysis is showing that for the moment bulls are taking a break from the rally and the bears might intervene due to the struggle to extend gains on the market. Furthermore, the pair continues to find support in the 20-day Simple Moving Average, which is showing us that this movement might be just a correction.
This trade is suitable for swing trading.
Entry points : around 111.4xx
Target price : 110.8xx
Stop Loss : tight, 111. 7xx
Please be aware of the fact that this trade will be taken under the most favorable circumstances and can be altered without prior notice. Only take this trade if it suits your trading plan and furthermore, your strategy.
Stay safe !
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