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Usdjpylongsetup

USDJPY bounced from support, potential for a further rise! USDJPY bounced off 105.990 where it could potentially rise further to 106.820. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone
USDJPY approaching resistance, look out for potential reversal! USDJPY is approaching 106.836 where it is could reverse down to its support at 105.885. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
USDJPY Long Reversal PotentialHi guys its Brian here with an analysis of USDJPY. USDJPY has been getting hit hard recently so trying to go long can be pretty risky but I do see a potential price area that acts as support. This might be like trying to catch a falling knife so do it with caution and watch for reversal confirmations before entering to play it safe. I have identified a support level at 104.575 where haves price reversed 3 times in the past (as seen by the green circle/oval) where initially it acted as a resistance but after prices broke through, it acted as support for the next 2 price test. This support level also happen to be the 0.786 FIB extension level. If going long at the support level then take profit levels can be set in the price range within the blue rectangle where support will have turned into resistance now. Stop loss can be placed slightly below the support level. Entry: 104.575 Take profit: 106.6 - 108 Stop loss: 103.3 www.brianchai.com Free Trading Group (signals, news, price alerts & more!)
Long
by BrianChai