FX.co ★ Tips for trading USD/JPY

USD/JPY traded near the rate offered by the Bank of Japan. However, a significant drop occurred.

This led to an interesting area forming on the M15 timeframe, where in the case of a true breakout, there will be a movement up to the breakdown of 145.

This means that starting from the current prices, market players could consider short positions, with stop-loss set at 146.750 and take-profit locked at the breakdown of 146.273 and 145.

The trading idea came from the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.