USDJPY

USDJPY. Potential long opportunity.

After USDJPY has made its correction down to the trend line, the pair is still following the structure and still remains bullish. While USD is still “the best performing currency” at the moment, we can also take that into consideration for the bull move we are anticipating. If our SL is hit, the pair would be breaking structure and make deeper pullbacks in the price. Our SL (Stop Loss) is sitting at 153.758. An important KL (Key Level) we have to look at is 155.626. If the KL is broken to the upside, we would see our TP (Take Profit) hit, which is sitting at 157.865.

PARAMETERS

- Entry: 154.815
- SL: 153.758
- TP: 157.865

KEY NOTES

- USDJPY made it’s pullback down to our trend line.

- Breaks below our SL would result in lower lows.

- Breaks above our KL would result in higher prices and hitting our TP.

Happy trading!

FxPocket