Trade Recommendation: USDJPY | Hacked: Hacking Finance
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Analysis

Trade Recommendation: USDJPY

Posted on .

Trade Recommendation: USDJPY

Introduction

This article was posted on Friday, 12:40, UTC.

The market dropped to 110.00 support level. This is a possible reversal zone where the market can start an upward movement to 111.00 – 112.00 levels. The price diverges with MACD and RSI and it gives us a trend reversal signal. RSI confirms price reversal from the support level. MACD histogram confirms a possible upward movement. In spite of the downtrend, we have a buy opportunity.

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Entry level for long trades should be above Simple Moving Average with period 20. It’s 110.50 level. Stop orders must be placed at 109.80 level. Profit target is at SMA100 and 111.50 resistance level. If the market drops below 110.00 support level, we’ll have to delete pending orders and wait for new trading opportunity. Recommended risk size for this trade should be up to 3% from your deposit.

Buy: 110.50
Stop: 109.80
Profit Targets: 111.48

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Dmitriy Lavrov

Dmitriy Lavrov

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.

Comments
  • user

    AUTHOR Dji127

    Posted on 12:14 pm August 15, 2017.

    Hi Dmitriy. Thank you for all of your recommendations I am finding them very helpful. Would you say that this recommendation is still a valid setup? It looks like USDJPY has found a low/support at 109.00 and is now making a strong move upwards. I expect a retracement from this recent run down to maybe 110.100 and then a continuation upwards. Would love to hear your thoughts.

    Thanks mate

  • user

    AUTHOR Dmitriy Lavrov

    Posted on 4:27 pm August 15, 2017.

    Hi, thanks for your comment! This recommendation is not valid. The market dropped and we have to wait for a new trading opportunity.

  • View Comments (2) ...
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