PITCHFORK - Forex USDJPY Weekly Analysis Feb 19th - 23rd , 2018
BUY USDJPY
Area: Pitchfork Lower Line
Channel Pitchfork - Descending
Entry: 106.600 - Lower Line
Target Profit: 107.500 - Median Line
Next Target Profit: 108.700 - Upper Line
Stop Loss: 106.600
Reward Potential: 210 pips
Risk: 60 pips
Reason:
1. Looking at Price are moving back to pitchfork channel, highprobability to hit median line.
2. US Dollar also have made rebounce on weekly lower line pitchfork . Expecting strong US Dollar and demand in the coming weeks.
Area: Pitchfork Lower Line
Channel Pitchfork - Descending
Entry: 106.600 - Lower Line
Target Profit: 107.500 - Median Line
Next Target Profit: 108.700 - Upper Line
Stop Loss: 106.600
Reward Potential: 210 pips
Risk: 60 pips
Reason:
1. Looking at Price are moving back to pitchfork channel, highprobability to hit median line.
2. US Dollar also have made rebounce on weekly lower line pitchfork . Expecting strong US Dollar and demand in the coming weeks.
Trade closed: target reached