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12.08.202008:53 Forex Analysis & Reviews: USD/JPY - price is above 106.5. Take profit!

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 12.08.2020 analysis

Good afternoon traders! Congratulations to those who followed the plan last August 5, which was to open long positions to work out the Elliot Wave in the USD/JPY chart.

Plan:

Exchange Rates 12.08.2020 analysis

Results:

Exchange Rates 12.08.2020 analysis

Congratulations! The movement successfully amounted more than 1,000 pips. The next step now is to take profit at current prices.

Price Action and Stop Hunting strategies were used for this trading scheme.

Have a good day and stay tuned for new trading ideas.

Andrey Shevchenko
Analytical expert of InstaForex
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