USD/JPY - 1D

11 Mar 2020

I have spotted that this pair is at a support that has been tested a few times, i think looking at the RSI on the daily which is at 35 and the EMA which is far from price these are both indications that price could move up. i am just waiting for a confirmation to enter i have placed a marker as to where i think price will move i have set a 150 pip SL with a 293 pip TP. which is nearly a 1/2 risk reward. if price hits 106.100 i will consider taking some profits and moving SL to EP. 106.100 is a fib retracement level so i will monitor this trade at this point.

Let's see how this goes.