Hello traders, USDJPY is trading at 103.97. The price is trading in a downward resistance and support wedges and can consolidate further before starting down trend. If the price breaks the key level at 103.88, it can continue its down trend and its target prices are as follows. 1st target price at 103.32 and 2nd target price at 102.59.
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.
