Hello traders, USD/JPY
is trading at 109. 40
. The pair is trading in resistance and support wedges
in an upward channel and rebounding back to touch its support level
. As the price has already touched its resistance level
and rebounding back to its support level
, it can give a small short opportunity. The entry price is 109. 40
, stop at 109.70 and target at 108.96.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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