USDJPY > Longterm Set-up > 1172.8 pips
Updated
USDJPY > Longterm > End of 2017
Pair continues to trade sideways breaking above cloud @ 113.00 level 5X but continues to meet strong resistance indicating correction phase in near-term, with lack in momentum still present.
Correction continues w/breaks below 111.50 level but not necessarily signals bearish trend in play.
Expecting continuance in corrective and consolidation phase with anticipation for USD to strengthen by end of year against all majors.
Personal idea for BUY and SELL set-up to target potential end-of-year rally for USD:
Buy Entry (already in place) @ 106.482
T/P @ 114.126
Target = 764.4 pips
Sell Entry (already in place) @ 114.126
T/P @ 110.042
Target = 408.4 pips
Total Target by end of year = 1,172.8 pips
Entries and T/P's can change as levels correct and prices consolidate.
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Pair continues to trade sideways breaking above cloud @ 113.00 level 5X but continues to meet strong resistance indicating correction phase in near-term, with lack in momentum still present.
Correction continues w/breaks below 111.50 level but not necessarily signals bearish trend in play.
Expecting continuance in corrective and consolidation phase with anticipation for USD to strengthen by end of year against all majors.
Personal idea for BUY and SELL set-up to target potential end-of-year rally for USD:
Buy Entry (already in place) @ 106.482
T/P @ 114.126
Target = 764.4 pips
Sell Entry (already in place) @ 114.126
T/P @ 110.042
Target = 408.4 pips
Total Target by end of year = 1,172.8 pips
Entries and T/P's can change as levels correct and prices consolidate.
* Personal analysis only. Please use your own rules and strategies prior to entering market.
** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.
Note
Due to volatility, pending orders cancelled @ this time. Best to trade real-time. Believe pair could still reach 109.00 area before reversal.Anticipated closing price @ end of month now estimated to be around 113.5 area.
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