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ForecastCity
Oct 13, 2019 10:48 AM

Don't miss the great buy opportunity in USDJPY Long

U.S. Dollar/Japanese YenFXCM

Description

Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (108.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. There is a divergence in RSI and price between the trough at 106.775 on 2019-06-25 and the trough at 104.45 on 2019-08-26, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
. USDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 61.

Take Profits:
TP1= @ 109.00
TP2= @ 110.70
TP3= @ 112.15

SL= Break below S2
Comments
Best_Forecast
I like your detailed analysis, very much. Thank you for this and your time, offering us all this.
ForecastCity
@Alexander_007, You're welcome. We are so happy that satisfied you.
fxniki
Many many thanks for the good forecasts you published here. I always follow your new ideas
ForecastCity
@fxniki, You're welcome!
Forecast_Crypto
Nice analysis as usual
you are great
ForecastCity
@Forecast_Crypto, Thanks for your nice comment on this post.
Amyar


4 Hour buy setup on usd/jpy
ForecastCity
@Amyar, Thanks for sharing your idea here.
Dave-FX-Hunter
ForecastCity
@DaweFXHunter, Thanks for sharing your idea.
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