Trade Recommendation: USDJPY

The trading idea is based on a bullish divergence. The price diverged with MACD histogram and it gives us a trend reversal signal. RSI confirms price reversal from 112.00 support level. MACD supports upward movement. DMI allows us to open long trades. Pending orders for buy can be placed at 112.25 level with stop orders at 111.90 level. Profit targets are 112.60 and 113.20 resistance levels. Don’t risk more than 3% from your deposit in this trade.

Market: USDJPY
Buy: 112.25
Stop: 111.90
Profit Targets: 112.60 and 113.20

Disclaimer: The analyst does not have investments in USDJPY.

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.