USDJPY / H1 / Daily Forex Technical Analysis / 5.23.2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 23rd, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 1 hour time frame we can see price action broke through the 109.917 and 110.155 key support and resistance areas and is currently in a minor retracement pulling back towards the 110.115 support area, where we will look to enter for a Long withing optimal parameters. Entry for a Long position near the 110.160 area, with a Stop Loss near the 109.918 region, and a target profit area of 110.827 to ensure a profitable trade with a 2.76 to 1 R/R.
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