Should price action for the USDJPY remain inside the 102.10 to 102.40 zone the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Short Position
• Entry Level: Short Position @ 102.30
• Take Profit Zone: 101.60 – 101.80
• Stop Loss Level: 102.70

Should price action for the USDJPY breakdown below 102.10 the following trade set-up is recommended:

• Timeframe: H1
• Recommendation: Short Position
• Entry Level: Short Position @ Retracements in the trend; sell orders during rallies
• Take Profit Zone: 101.60 – 101.80
• Stop Loss Level: 102.70

Should price action for the USDJPY breakout above 102.40 the following trade set-up is recommended:

• Timeframe H1
• Recommendation: Long Position
• Entry Level: Long Position @ 102.50
• Take Profit Zone: 103.10 – 103.30
• Stop Loss Level: 102.10

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.

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