For Traders

Analytical Reviews

Technical analysis

10.09.202008:54 Forex Analysis & Reviews: Trading idea for the USD/JPY pair

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.

Yen has been trading in a narrowing range for quite some time now, but yesterday, the quote was able to break out of the upper limit, the cause of which is the pin bar pattern that has captured buy stop orders over the past few days.

To fully escape the triangle, as well as raise USD / JPY in the market, use the pin bar as pivot, and then place profit at 107.

Profitability for this strategy is 3:1.

Of course, controlling the risks should not be left out, so as to avoid any losses.

Best of luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.