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Get more live signals from Adam throughout the day at ForexSignalz. com. Choose your plan now. By: DailyForex. com USD/JPY Signal Update Yesterday’s signals expired without being triggered. Today’s USD/JPY Signal Risk 0.75% Trades may only be taken between 8am London time and 5pm New York time only, or after 8am Tokyo time later. Short Trade 1 Short entry following some bearish price action on the H1 time frame immediately upon the first test of the long-term bearish trend line currently sitting at around 120.12. Place the stop loss 1 pip above the local swing high. Move the stop loss to break even once the trade is 20 pips in profit. Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride. Long Trade 1 Long entry following some bullish price action on the H1 time frame immediately upon the first test of 118.00. Place the stop loss 1 pip below the local swing low. Move the stop loss to break even once the trade is 20 pips in profit. Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

Long Trade 2 Long entry following some bullish price action on the H1 time frame immediately upon the first retest of the broken bullish trend line currently sitting at around 117.38. Place the stop loss 1 pip below the local swing low. Move the stop loss to break even once the trade is 20 pips in profit. Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride. USD/JPY Analysis Although this pair continues to consolidate, it is now possible to draw a new bullish trend line connecting some multiple swing lows. This trend line is currently sitting very close to the whole number support that can be expected at 118.00 which should bring some strenthening confluence to that support level.

There are no high-impact events scheduled for the JPY today. Regarding the USD, at 1:30pm London time there will be a release of U. S. CPI and Unemployment Claims data. Risk Disclaimer: DailyForex will not be held liable for any loss or damage resulting from reliance on the information contained within this website including market news, analysis, trading signals and Forex broker reviews. The data contained in this website is not necessarily real-time nor accurate, and analyses are the opinions of the author and do not represent the recommendations of DailyForex or its employees. Currency trading on margin involves high risk, and is not suitable for all investors. As a leveraged product losses are able to exceed initial deposits and capital is at risk. Before deciding to trade Forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.

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