ForecastCity

Don't miss the great buy opportunity in USDJPY

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (108.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. There is a divergence in RSI and price between the trough at 106.775 on 2019-06-25 and the trough at 104.45 on 2019-08-26, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
. USDJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 61.

Take Profits:
TP1= @ 109.00
TP2= @ 110.70
TP3= @ 112.15

SL= Break below S2

High Accurate AI-Generated forecasts for:
🌟36 Forex Pairs
🌟175 Cryptos
🌟16 Stock & Currency Indices
🌟Gold,Silver,Oil,Gas

✅ Best Profitable Trading Strategies
✅ in 9 languages
✅ since 2007

FREE Telegram 👉 t.me/forecastcity_com
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.