USDJPY / H4 / Daily Forex Technical Analysis / 5.20.2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 20th, 2019 and we will be taking a look at the U.S. Dollar against the Japanese Yen. Looking at the 4 hour time frame, we can see price action had a nice move to the down side and is now on a decent relief rally but it seems very corrective. We will be looking for price action to continue up a bit higher reaching the 110.986 resistance area to look for a short entry in optimal conditions. Entry for a Short position near the 110.667 area, with a Stop Loss near the 111.002 region, with a target profit level area of 109.737 to ensure a profitable trade with a 2.78 to 1 R/R.
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