Currently, USD/JPY is trading at 104.55. The pair is trading in a downtrend from some time and now rebounded back after touching the support level at 104.10, as it has rebounded from the support level, it can be an event effect. If it breaks the support level at 104.10 and enters the support zone, then it can go down further and touch the bottom of the support zone at 102.21.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Rishikesh Lilawat
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat