USD/JPY Technical Analysis.

FX:USDJPY   U.S. Dollar / Japanese Yen
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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Rishikesh Lilawat