USDJPY Midterm Overview and Trade Idea Update: Targets Reached 140 Pips

USDJPY Midterm Overview and Trade Idea

Published: 07-02-2018

Pair: USDJPY

Patterns Indicators Fundamentals: USDJPY is trading at 110.720. Price is above EMA 50 100 and 200. Golden Cut of EMAs forming.  Price broke the fractal trendline and retested. Fibonacci 78.6% works as a support. The medium-term trend is bullish. Price may retest the trendline. We plan to use pullbacks as buying opportunities.

Our Trade Idea:

Aggressive Traders:

TRADE: LONG

ENTRY:  110.730

STOP: 110.100

TARGETS: 111.300  and 112.200

Conservative Traders:

TRADE: LONG

ENTRY: Pending buy at 110.380

STOP: 110.100

TARGETS: 111.300  and 112.200

Update: Targets Reached. Trade closed with 140 pips… We will publish a detailed forecast today. Minor retracement is expected.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

USDJPY :  Forex Trading involves risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guaran:tee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.