USDJPY / H4 / Daily Forex Technical Analysis / 5.8.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is May 8th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 4 hour time frame, we are looking to see if price action will break this support area of 109.917. If we do get such an advantageous opportunity we would be looking for an entry Long near the 109.764 area. If we do get an entry at those levels with a Stop Loss below the lows near the 109.527 zone, targeting our profit level area of 110.288 to ensure a profitable trade with a 2.21 to 1 R/R.