DiligentTrading

USDJPY AWAIT CONFIRMATION FOR SHORT OR LONG POSITION

FX:USDJPY   U.S. Dollar/Japanese Yen
89 1 1
Price has moved up and hit our monthly resistance level and trend line , we will watch closely to see if price is rejected by this level. If price is rejected we will enter a short position with a target area of 105.379.
If price breaks our resistance and trend line we will look for long opportunities if price then retests after the break with a take profit of 111.758. Either way we will be looking at over a 200 pip trade.
We must await confirmation before entering any trade this is when patience is key, don't chance the trade let it come to you.
uzzisa
9 months ago
Looks like its broken the trend line! Looking to buy?
Reply
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