Home » Forex Trades » New Forex Trading Signal: Buy USDJPY @ 103.80

New Forex Trading Signal: Buy USDJPY @ 103.80

Buy USDJPY @ 103.80. Take profit targets @ 104.80 and 104.50

Stop loss @ a close below 103.50

USDJPY 4H | FXLORDS

Conviction:

Yesterday’s and today’s candlestick of the USDJPY pair formed a hammer candlestick; the price tested a lower price, retraced, and then ended the trading session higher than the open price. The price also tested the mojor resistance at 103.90 and didn’t reverse it direction. On top of that, oscillators applied on the USDJPY 4 hours chart are all around their positive values, which confirms its strength. On the daily chart, the MACD signal curve reached the zero value and is continuing into the histogram, which is also in the positive zone. The RSI is also showing strength on the daily chart as its heading into the 70 level.

Subscribe to FXLORDS Forex Trading Signals Here

XTrade Mobile App

About Razi Hammoudeh

Razi’s professional experience was gained over the course of more than a decade working with leading Forex market makers in the Middle East, Asia and Europe where he learned about trading, financial instruments and global markets. Being exposed to the wide range of skills he acquired along the years, he continued to develop his trading strategies and further improving his track record in Forex trading. He used innovative business development strategies to find FXLORDS, helping it to rapidly become a major provider of education and trading tools to the successful trader. He is an enthusiastic individual, motivated by challenge and renowned for pushing the limits, always looking to gain some more experience and help as much as possible along the way.

Check Also

New Forex Trading Signal: Buy GBPUSD @ 1.3070

Buy GBPUSD @ 1.3070. Take profit targets @ 1.3140 and 1.3180 Stop loss @ a …