Jan 15 2019

USDJPY Trade Idea

USDJPY:-A clear upside breakout has happened on hourly chart. If we look at momentum indicator- RSI (14 period), the pair looks overbought as the indicator turns back from 74 mark. So a re-test towards breakout zone is likely expected, which probably gives an opportunity to enter in long USDJPY.

Our Preference:- Buy at 108.55

Target- 109.05

Stop loss- 108.30