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USDJPY / H1 / Daily Forex Technical Analysis / 5.30.2019

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 Forex Technical Analysis forexsignals forextrading forextradingzones may2019
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trendanalysis harmonicpatterns chartpattern usdjpy h1 dailyanalysis forex technicalanalysis forexsignals forextrading forextradingzones may2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 30th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the overall structure price action seems to be printing in a double bottom. Looking at the 1 hour time frame we can see price action had an aggressive bullish bounce off the 109.1 region, if price action manages to pull back and maintain a bullish sentiment we look for an entry Long. Entry for a Long position near the 109.417 area, with a Stop Loss near the 109.125 region, and a target level area of 110.143 to possibly ensure a profitable trade with a 2.49 to 1 R/R.
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