Quick Take: USDJPY - Missed The Move Up? A Pullback Is Coming!

Did you miss that move up? After I warned you about a pending reversal coming? A month ago on July 28th, I posted this: QUICK TAKE: USDJPY COULD START A STRONG MOVE UP

It didn't exactly move up from the point I posted that but all the signs were there that there was going to be a reversal and a move up. Well, it has done exactly that. If you were a member of my website, you would've been alerted to a strong BUY in this pair and you would not have missed it! Right now, we are already up +258 pips (already banked +366 pips by closing half the trade). If you were a member, you would also be up a lot of pips.

So anyway, what I see happening here is that prices are pushing higher towards the MAJOR DT TL (blue) and also the resistance zone that I have marked on the chart. There is also a completed crab on the chart in which prices are now testing its PRZ. It is now at the 3.14 level but I am expecting that it will move to the 3.618 level where it is in the resistance zone and should be at that MAJOR DT TL. From there I would expect a reversal retrace back down to retest the lows.

Do you want to be alerted about great trading opportunities like this one? We've had MANY such trades and several trades that netted us thousands of pips this month! Were you also a member, you could've banked those pips, too? You didn't make thousands of pips this month? Why not? Just one trade alone makes the cost more than worth it! Join us for the next month and reap the pips! Subscribe now! It's easy. Just CLICK HERE..

So far this month with a few more trades that are also in profit still open and not accounted for, we've racked up and banked over +3700 pips so far this month! IF you were trading 1 FULL lot on each trade, you would be up over $37,000 this month! Is that worth the price of admission? Don't believe me? You can go check my trade tracking sheet here: bit.ly/29AeqnC. That sheet contains ALL my trades dating back to last year. Winners and losers. Nothing is left out.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!

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Update status

Comment:

Up +296 pips now. This has now moved EXACTLY the way I predicted and is now in the resistance zone and bumping up against my MAJOR LT DT TL. It has NOT reached the 3.618 level yet though and this may spike higher before coming down. So waiting for SELL setup.... As always, be CAREFUL going against the trend. It may just continue higher. Which of course would be good for our trade.

Comment:

I just closed my LONG trade on this pair and went ahead and banked +928 pips profit. I am now expecting that there should be a drop coming to retrace this move up BUT with the NFP coming in a couple of days, I doubt that any kind of solid trend move will occur. There is NO TELLING what will happen with the NFP so although I closed the trade in anticipation of a drop down, I will wait until I see a SOLID sell signal. For now, I am on the side on this pair now.

Comment:

for those of you wanting to trade this, prices went right up and through my resistance zone and also the 3.618 like I said it would and is now breaking back down. This would be bearish price action and also a good SELL setup. HOWEVER, because tomorrow is NFP day, if you do sell, you better protect yourself! And remember, stops won't help much during the NFP. So I would strongly suggest to reduce your lot size exposure and not get GREEDY!