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Trading USD/JPY - Technical Analysis

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Dean Bakos
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So we have a nice potential breakout for the USD/JPY. Non Farm Payroll this week will in my opinion cause a breakout either way.

So here is the trade.

  • Order to go long at 115. Stop loss at 113. Take Profit 118.
  • Order to go short 112.75. Stop loss at 114.5. Take profit at 108.

Once an order is triggered, make sure to keep an eye on the trade. And manage your stop losses accordingly.

Trade responsibly - understand the risks involved.

Until next time, I wish you profitable trading. 

Chart source: Bloomberg
 
 

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