Here is my analysis for USDJPY for the upcoming week, wait for price to pullback to retest resistance and take a short down to the next .
What are your thoughts? Leave it in the comments below!
Blue Signal FX Rules-Based Trading
1. CHECK THE NEWS!
2. WHAT IS THE OVERALL TREND?
3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)?
5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE.
6. CHECK FOR DIVERGENCE.