theforexarmy

USDJPY Testing Support, Prepare For A Bounce

Long
FX:USDJPY   Dollar Américain / Yen japonais
Buy above 110.49.
Stop loss at 110.23.
Take profit at 110.90.
Reason for the trading strategy (technically):
USDJPY is approaching its support at 110.49 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where price is expected to bounce up to its resistance at 110.90 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 4.8% where a corresponding bounce is expected.
Clause de non-responsabilité

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