DLavrov
Long

USDJPY Buy Opportunity

FX:USDJPY   U.S. Dollar / Japanese Yen
The price dropped to the support zone . If we look at the previous market movements at this zone, we'll see 3 reversals with further upward movements. Now we should expect the same price action at this support. RSI is in the oversold zone and it will give a good signal confirming price reversal. In order to join the possible upward movement after the reversal, we can place pending orders for buy above the high of the bearish candle. It's 110.00 level. Stop orders should be placed below the local swing low. The profit targets can be at 112.00 and 114.00 levels. If the price breaks 109.00 level, we'll have to delete buy orders and wait for new trading opportunities.
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@DLavrov thanks for great analyse , just one thing , you said if price breaks 109.00 level ? we see last candle is bearish and big enough and broke 109.00 ! so i thing your mean is 108.00 level !
thanks
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