USD/JPY Near Term Set up for Long

10 Ağu 2017

USDJPY Long

Entry 1: 109.0, Stop Loss 1: 108.75, Target 1: 114.4, Risk to Reward Ratio: 1:19.4

Entry 2: 108.3, Stop Loss 2: 108.00, Target 2: 114.4, Risk to Reward Ratio: 1:28.33

Trade cautiously and await for confirmation of entry signals

• Consider the horizontal channel which repeats itself over a 1- 1.5 Month Period
  
• Support levels at 109 & 108.35
  
• Resistance level at 114.4
  
• Awaiting moving average cross over
  
• 4 hour RSI Index overbought
  
• Bottom of Bollinger Bands - awaiting reversal
  

Good Luck!

11 Ağu 2017

Not

Support Levels at 108.8 have held and price action appears to be moving back up and confirming reversal in direction.