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USDJPY / H4 / Daily Forex Technical Analysis / 5.20.2019

Short
U.S. Dollar / Japanese Yen (OANDA:USDJPY)  
FuturesForexClasses  
OANDA:USDJPY   U.S. Dollar / Japanese Yen
Chart Patterns Harmonic Patterns Trend Analysis USDJPY h4 dailyanalysis Forex Technical Analysis forexsignals forextrading forextradingzones may2019
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chartpattern harmonicpatterns trendanalysis usdjpy h4 dailyanalysis forex technicalanalysis forexsignals forextrading forextradingzones may2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 20th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 4 hour time frame, we can see price action had a nice move to the down side and is now on a decent relief rally but it seems very corrective. We will be looking for price action to continue up a bit higher reaching the 110.986 resistance area to look for a short entry in optimal conditions. Entry for a Short position near the 110.667 area, with a Stop Loss near the 111.002 region, with a target profit level area of 109.737 to ensure a profitable trade with a 2.78 to 1 R/R.
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