Hello Traders, welcome to the Daily Forex technical analysis
. Today is August 13th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen
. Looking at the overall structure price action is making progress towards it previous area of support and resistance
at the 105.5 region. If price action can turn bullish
at this resistance area
by flipping bullish
and regaining the 105.5 as support, we will be looking for an opportunity to go long. Entry for a Long position near the 105.590 area, with a Stop Loss near the 105.050, and a target profit level area of 106.815 to possibly ensure a profitable trade with a 2.27 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!