Good day traders! Here is a trading idea for the USD / JPY pair.
After a series of news, a breakout occurred in the USD / JPY pair, in the area of last week’s high at 107.400.
To lower the pair even further in the trading chart, follow the plan indicated below:
Open short positions to lower the quote at last week’s low in the level of 106.600 (target 1), as well as in the “double bottom” at the level of 106.000 (target 2). After which, take profit.
Cancel the scenario if the quote breaks out of the level 107.500.
Also, always remember to control the risks to ensure profit. Good luck!
[The trading idea is based on the Price Action and Stop Hunting strategies]
The material has been provided by InstaForex Company – www.instaforex.com
Source:: Trading idea for the USD/JPY pair