we are at a golden point, if the market breaks up, just buy were gonna fly , and if it breaks down just sell , but were 90 % sure that were in a selling position
FX:USDJPY
Take profit
1. 105.726
2. 106.042
3. 106.266
Stop Loss – 105.313
Don’t forget many management, trade at your own risk above is just trading trend analysis
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (104.2). 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 above the 21-Day WEMA which acts as a dynamic support.
....
The daily is turning down against the March highs at 111.68. The 4 & 1 hour are turning up against 103.14 to correct the cycle from the May highs. While above 103.12 the pair can see strength toward 107.00 before a turn back lower.
Sell @103.85-104
TP: 103.25
SL: 104.20
Good luck !
