(Trade Setup): Potential +20 Pip Buy on USD/JPY - Forex Anatomy

(Trade Setup): Potential +20 Pip Buy on USD/JPY

Hello Traders!

I am posting another potential buy opportunity in USD/JPY for a ~20+ pips trade.

🔔If price pulls back to the 109.50/109.60 zone, and completes a 3-wave correction into fresh demand, with an oversold reading on a lower timeframe stochastic (trigger), then look for an opportunity to buy USD/JPY to target 109.76 upon bullish confirmation.

Stop Loss – ~10 to 13 pips

Take Profit – ~20 pips or 109.76

 

 

About the Author Marvin Perry

Marvin Perry has been an active trader within the Forex market since 2010. He attended the University of Illinois in Urbana/Champaign, and graduated in 2002 with a double major in Cell and Structural Biology and Chemistry. He currently serves as an FX instructor & Quantitative Analyst for the Forex Anatomy Private Trading Community called "The Lab", where he conducts live weekly trading webinars & instruction on Fundamental Analysis & Inter-Market Interpretations of dynamic asset classes and their influence on currencies.

follow me on: