USDJPY: Reversal of Algorithm Trading Crash

USDJPY
Timeframe: 1D
Direction: Long

Confluences for Trade:
- Bullish candle formations
- Stochastic moving out of Oversold conditions
- Price action bounced off Strong Support (since March '18)
- Fundamentally, we are taking opportunity on the reversal of the algorithm trading crash and with FED's hike projection becomes unlikely, the funding currency of the world JPY would normally be deployed to search for yield when the US economy is stagnating as we have seen the other Emerging Markets around Asia has shown strength and resilience in FX terms.

Suggested Trade:
Entry @ Area of Interest 107.50 - 108.50
SL: 106.62
TP: 110.77
RR: Approx. 2.00 (Depending on Entry Level)


May the pips move in our favor! Good luck! :D

*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.

Trade closed: target reached