USDJPY / H1 / Daily Forex Technical Analysis / 5.30.2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 30th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the overall structure price action seems to be printing in a double bottom. Looking at the 1 hour time frame we can see price action had an aggressive bullish bounce off the 109.1 region, if price action manages to pull back and maintain a bullish sentiment we look for an entry Long. Entry for a Long position near the 109.417 area, with a Stop Loss near the 109.125 region, and a target level area of 110.143 to possibly ensure a profitable trade with a 2.49 to 1 R/R.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.