Currently, USD/JPY is trading at 104.10. The pair is trading in a sideways trend and can break the support level to start a new down trend. If the price breaks the support level at 103.66, then it can start a new down trend and its first target will be at 103.20 and second target will be at 102.65.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don’t risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.
