Currently, USD/JPY is trading at 104.55. The pair is trading in a downtrend from some time and now rebounded back after touching the support level at 104.10, as it has rebounded from the support level , it can be an event effect. If it breaks the support level at 104.10 and enters the support zone , then it can go down further and touch the bottom of the support zone at 102.21.

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.

Do follow us for future Forex trend analysis and Ideas.

Thank you,

Rishikesh Lilawat

Rishikesh Lilawat
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.