USD/JPY Long on support (monthly)

٢٥ أغسطس ٢٠١٦

long USD/JPY at 100.55 with a price target of 117.5 and a stop of 96. Long term lateral support/resistance in the ~99-100 range dating back to '09. In addition the current level coincides with the 50% fib retracement on the daily bull move from the '12 lows to the '15 highs. (I recommend a $10,000 USD buy on margin with a downside risk to the account of 450/upside possibility of $1700) *All size recommendations are based off of a 10,000 USD base account value.