USDJPY - Buy/Long at Pullback/Support - Uptrend Continuation
USDJPY Buy/Long
Buy 134.385
Looking to buy at this level to see the continuation of the uptrend, this could be a good pull back level and this buy zone is previous resistance which could turn support. Also lines up with the 0.382 Fib level, (0.50 Fib Level is also covered by our stop los), should price decide to hit that.) After Fridays NFP results, US printed stronger than expected employment figures so I think we will continue to see bull strength.
Stop: 133.828
Stop has been set at this level, i have given the 0.382/buy zone some breathing space, also as mentioned previously 0.50 fib level is covered within this stop area. if price hits stop I would no longer believe price is respecting this zone and would look for another buy opportunity at 133.00 level.
TP: 136.630
Take profit has been set at 136.630 - this is a key Daily support/resistance area. Look at moving stop to break even and trailing profit.
Buy 134.385
Looking to buy at this level to see the continuation of the uptrend, this could be a good pull back level and this buy zone is previous resistance which could turn support. Also lines up with the 0.382 Fib level, (0.50 Fib Level is also covered by our stop los), should price decide to hit that.) After Fridays NFP results, US printed stronger than expected employment figures so I think we will continue to see bull strength.
Stop: 133.828
Stop has been set at this level, i have given the 0.382/buy zone some breathing space, also as mentioned previously 0.50 fib level is covered within this stop area. if price hits stop I would no longer believe price is respecting this zone and would look for another buy opportunity at 133.00 level.
TP: 136.630
Take profit has been set at 136.630 - this is a key Daily support/resistance area. Look at moving stop to break even and trailing profit.
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