USDJPY Forecast and Trade Setup for 3th March, 2014

USDJPY Forecast and Trade Setup for 3th March, 2014

Daily Chart

• My marked area of Potential Reversal Zone (in blue) is a Fib ext of 200 from the first leg down from the highs
• Look left, and you will see its also a previous resistance
• Also a 61.8 Fib Retrace level

Hourly Chart

• On the 4 hourly chart, i can identify a equal measured move, which falls right at my blue zone (PRZ zone)
• Will take this trade as a longer term trade, stops will be wide

Outlook Trade opportunity

Please see Hourly Chart

Risk Level Medium

Tips -

Always take note of any economical news event on our provided calender below