Key Resistance Levels: 109.75, 110.02, 110.44
Key Support Levels: 108.89, 108.62, 108.19
The USD/JPY is trading bullish at 109.550 level, maintaining a tight trading range of 109.829 – 109.400 level. The safe-haven currency pair USD/JPY is facing immediate resistance at 109.820 along with a support level of 109.400. The recent formation of series of Doji and Shooting Star candles on the 4-hour timeframe are demonstrating indecision among investors. Release of any high impact even is likely to trigger sharp buying or selling in the USD/JPY. On the lower side, a bearish breakout of 109.400 support can lead the pair towards 109.037. Conversely, the bullish breakout of 108.820 level may drive buying until 110.450 and 110.850.
USD/JPY Medium-Term Trend: Bullish
The USD/JPY pair is maintaining a tight trading range of 109.829 – 109.400 level. We are setting up a sell stop order below 109.430 to target 109.013 level along with a buy stop order at 109.850 We expect a breakout to the lower and a rally all the way down to the target profit.
Signal Idea: Sell Stop
Sell Stop Order @ 109.430
TP 1 @ 109.013
TP 2 @ 108.385
Stop Loss @ 109.650
Signal Idea: Buy Stop
Buy Stop Order @ 109.850
TP 1 @ 110.550
TP 2 @ 110.950
Stop Loss @ 109.450
Trade Safely 🙂
Please sir, I want to start this trade but I don’t know where to start
Hi Rose, this video here will help: https://youtu.be/oN6R0RGuAsE
It’s an amazing trade sir🙃❣️🔥
Thank you Naimur, stay tuned 🙂
Should we delete the buy stop since the sell stop triggerex?
Yes please delete buy stop and move SL at Entry price once the trade is in profit. 🙂