Hey guys, hope you had a nice weekend and enjoyed suggested trades in the previous week. Let me share another opportunity with you.

USDJPY is trading is in a narrow daily range of 104.500 – 103.500. As suggested in the previous analysis, the pair is likely to determine trend once it comes out of its broad trading range of 115 pips from 104.600 – 103.450. Since the pair put a high of 104.467 plus a low of 103.600. Further, it only contributed 42 pips to an opening value of 103.702.

Fundamentals:

JPY:

Economy Watchers Sentiment

USD:

• Empire State Manufacturing Index
• Capacity Utilization Rate
• Industrial Production m/m
• FOMC Member Fischer Speaks

Technical Levels:

R3: 104.95
R2: 104.62
R1: 104.41
Pivot Point: 104.08
S1: 103.75
S2: 103.54
S3: 103.21

Recommendation:
On worse than expect figures
1) Good to Sell Below 104.350
SL: 104.550
TP: 103.850

On better than expected figures
Buy Above 103.80
TP: 104.35
SL: 103.45

Scalp USDJPY

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