USDJPY 4th Qtr. Range Analysis

USDJPY Range Analysis for 2017 4th Qtr.

High @ 114.40
Low @ 105.52

* Personal analysis only. Please use your own rules and strategies prior to entering market.

** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.

Comment:

BUY Entry Order placed @ 112.960

Comment:

T/P @ 113.650
Set S/L accordingly
A break below 111.75 will deem this set-up invalid.

Comment:

Designated support broken. Set-up invalid on NK news.

"Where one opportunity closes, another one opens."

Comment:

Trade idea for over night Asian session:

Expecting Srong support of 112.05. to hold. If 113.25 is reached, will expect rise to 113.65 level and if broken, a re-test to 114.00 level.

Would close out between those levels for T/P and stand aside as I believe a fall could likely occur.

Personally, I will not be trading this pair but will observe the analysis.

Comment:

Decided to put it to the test:

Entry Order placed @ 113.25
T/P @ 113.85
Total target = 60 pips

Comment:

Entry not reached within timeframe, order cancelled.

Comment:

BUY Entry Order placed @ 111.75
T/P @ 113.5
Total Target = 175 pips

Comment:

SELL Entry order placed @ 113.010
T/P @ 112.540
Total Target = 47 pips

Comment:

BUY Entry order
T/P changed to 113.000
Total target = 125 pips

Comment:

All Entry Orders cancelled