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Forex pairs in this Article » USD/JPY

Risk Taken 1.00%

This entry should be placed as a pending order

US Dollar/Japanese Yen: Long Trade on breach of high

Enter long in the 104.20 area seen how well the key support level held.

Stop Loss 10 pips below 102.80

Take Profit: First target 108.40, second target 110.00.

USD/JPY Analysis

The price is above the key support level found at 103.00. This is where the market spawned a bearish false break and has created a nice, long price action signal. This makes the option of entering a "trend following" order on this pair very interesting.

Here is the chart:

USDJPY Long Trade Signal

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