FX.co ★ Do not sell USD/JPY

Good day, dear traders! It is time to remember the USD/JPY, which still hints at further growth.

October 23 was a good day for buyers because from the Asian session, the instrument showed a clear bullish momentum. This looks especially interesting, given that there is a good target for purchases – the level of 108.94. Therefore, the recommendation for the near future on this tool is to buy. You can limit the risks either by the minimum of yesterday's US session at the price of 108.50 or by the minimum of October 23 at the quote of 108.26. When the level of 108.26 is broken, the whole scenario can be considered canceled. It is also necessary to take into account that today is Friday, and next week promises to be explosive for the US dollar, the implementation of the entire plan is likely to be delayed until next week.

The trading idea is presented on the basis of the method "price action" and "hunting for stops".

I wish you all a good weekend!