USDJPY – Down
On the daily chart above, price went up but could not reach the resistance 113.62, right now it is pulling back to the key support zone 111.23-110.93 and I expect a bounce of it within the zone followed by possible bullish movements of USD towards 113.62 and a possible breakout above it for a further rise in USD. My advice, wait for a correction and a rejection of price within the zone 111.23-110.93 then long the pair within it with your take profit at 113.62 and stop loss slightly below 110.93, In case of a breach above 113.62, wait for a correction to it before you continue long with the pair.
Wait for a correction to 111.23-110.93 to Rebuy USD/JPY.
Do you know against which currencies JPY is the most profitable?
More trading assets here…
You may check other analytical reviews on FreshForex website. Source: freshforex.com.