FX.co ★ USD/JPY Trading Recommendations for 8th August 2016

Price has bounced up really nicely as expected since Friday. We are half way towards our profit target. We look to buy on weakness at 101.70 to add to our position for a further rise to 103.00

101.70 is a strong support level (Fibonacci retracement + graphical overlap support)

RSI (21) has also made a really nice bullish exit triggering a further rise from here.

Trading Recommendations :

Buy above 101.70.

Stop loss at 100.55.

Take profit at 103.00