USDJPY – Down
The pair on the daily chart above declined steadily towards a supportive zone 111.82-111.61 but price could not penetrate below it and was rejected. Currently it is moving on an increasing bullish bias towards 114.51 and I expect a possible bullish momentum to the line. I’m looking to buy this pair right now within this zone with my take profit at 114.51 and stop loss around 110.84.Should there be a clear breach below the above mentioned zone with a big red candle, wait for a correction to it confirming possible bearish movement of price before you pick short positions towards the key line 108.73 or even lower to 106.73.
Buy USD/JPY now within 111.82-111.61.
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.