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USDJPY / H1 / Daily Forex Technical Analysis / 5.23.2019

Long
U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
FuturesForexClasses  
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY h1 dailyanalysis Technical Analysis Forex forextrading forextradingzones may2019 forexsignals
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trendanalysis harmonicpatterns chartpattern usdjpy h1 dailyanalysis technicalanalysis forex forextrading forextradingzones may2019 forexsignals
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 23rd, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 1 hour time frame we can see price action broke through the 109.917 and 110.155 key support and resistance areas and is currently in a minor retracement pulling back towards the 110.115 support area, where we will look to enter for a Long withing optimal parameters. Entry for a Long position near the 110.160 area, with a Stop Loss near the 109.918 region, and a target profit area of 110.827 to ensure a profitable trade with a 2.76 to 1 R/R.
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