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.
Looks like its broken the trend line! Looking to buy?
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