Don't miss the great buy opportunity in USDJPY Long

U.S. Dollar/Japanese YenFXCM

Description

⋅ Jul 31, 2020 1:04 PM

Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (104.75). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. USDJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 70.

Take Profits:
TP1= @ 105.30
TP2= @ 105.65
TP3= @ 106.05
TP4= @ 106.70
TP5= @ 107.25

SL= Break below S2

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Comments

Sir_Ray

⋅ Jul 31, 2020 4:48 PM

Thoughtful analysis, well done!

ForecastCity_ME

⋅ Jul 31, 2020 10:24 PM

@Sir_Ray, thanks for your comment.

Kamryn

⋅ Jul 31, 2020 4:27 PM

Great analysis!

ForecastCity_ME

⋅ Jul 31, 2020 10:24 PM

@Kamryn, thanks for your comment.

Josef_anderson

⋅ Jul 31, 2020 2:51 PM

Your analysis is very accurate.

ForecastCity_ME

⋅ Jul 31, 2020 10:24 PM

@Josef_anderson, thanks for your comment.

Pro_Trader_007

⋅ Jul 31, 2020 2:32 PM

1st recommend I have followed...

ForecastCity_ME

⋅ Jul 31, 2020 10:24 PM

@Pro_Trader_007, thanks for your comment. we Appreciate it.

Best_Forecast

⋅ Jul 31, 2020 1:33 PM

Excellent forecast.

Thanks for sharing this great idea!

ForecastCity_ME

⋅ Jul 31, 2020 10:26 PM

@Alexander_007, we Appreciate your comment.