How to trade the USDJPY currency pair today

  • Apr 02 2021
  • by
  • Analyst AZA
How to trade the USDJPY currency pair today

How to trade the USDJPY currency pair today on Forex

The US dollar continues its onslaught against the Japanese yen. The upward trend has been going on for a long time, but so far there are no signs of its reversal. Now the price has approached the flat resistance level of 111.00, where a huge number of different orders are concentrated. This level can delay the bulls in their advance, but most likely this level will be broken. only after breaking this level, we recommend opening a long position. The price still has a margin to move up to the strong resistance level of 111.75, at which we recommend placing an order to take profit.

Symbol: USDJPY
Order Type: Pending Order - Buy Stop
Entry Price: 111.00
Take Profit: 111.75
Pips Earning: 75

In this position, the profit can be $ 714.29 with an order volume of 1 standard lot.


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