Hello traders, USD/JPY is trading at 108.73. The pair is trading in resistance and support wedges in an upward channel and can break the support level to start a new down trend, as the long-term trend is down trend. As the price has already touched its support level and gave a small pullback now it is again going towards support. If the price breaks the support level at 108.60, it can start a new down trend and then its targets will be first target at 108.32 and second target at 108.01.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat