USD/JPY Long-Term Trend: Bullish
Key Resistance Levels: 133.80, 134.16, 134.86
Key Support Levels: 133.21, 133.02, 132.73
The price on the higher time frame has been in an uptrend recently after it reversed from a support level of 130.69 It broke a resistance level of 131.82 and has continued to make higher highs which shows a bullish bias.
USD/JPY Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 132.73 and 133.02 and has sustained above that. As of now the pair has broken and retested a minor level of 133.21 before continuing the momentum.
Buy Stop Order @ 133.45
TP @ 134.01
Stop Loss @ 133.17
rade Safely 🙂
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I don’t know if you can help me out with the spread question here. When I try to execute my GBPJPY trade, I see my broker only offer, mini, var, and something called pro? Please, what is the difference as I am a bit confused about the right one to choose. Thanks.
You will be able to see details of each account type on the broker’s website. Usually, they have commission account and spread account I’ll suggest you to get commission account.
Hope this helps.