The trade for next week is as follows:
- Trade Entry: Buy USDJPY at 104.00
- Stop Loss: Place stop at 103.00
- Initial Target: 106.00
- Intermarket Analysis: Be sure to confirm US bond yields are indeed rallying before trading
Also, read the corresponding article, “A Long USD/JPY Trade That’s Ideally Validated.”
By Todd Gordon, founder, TradingAnalysis.com
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Disclaimer: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.
