USDJPY: Buy Setup from Support | January 24, 2017

Usdjpy has touched trendline support level on h4 time frame as shown on the chart. Though this pair is on bearish mode, still we can look for buy above the trend line support. We can see that this pair has rejected twice from the support. So it will be important level for this pair. Buyers will try to take control from this level.

Buy trade setup

❐ Above 112.50 level, search for buy trade.

❐ If we can find any bullish rejection, then open buy entry.

❐ Stop loss will be below recent support level.

❐ Take profit level 113.50 and 114.00

❐ If break supports, then don't open buy position.




Read more USDJPY previous chart analysis

Read more All pairs chart analysis at a glance