FX:USDJPY   U.S. Dollar / Japanese Yen
Technically Speaking
Price is right at the 103 level and right above the 100 DMA. I am watching and seeing how price reacts around these levels. Anything under the hourly time frame is noise in my opinion.

Risk Factors
Important economic reports to end the week. Unemployment claims tom at 7:30 CST.
The BIG ONE- Non-Farm payroll report Friday at 7:30 CST.

What to do?

I like to see price action around key levels. This pair is there right now. Just remember the events mentioned above, as volatility can be high around these reports.

Here is my checklist before I take trades:

Is this trade worth taking?
* Where is the R/R right now?
* Is the market trending or ranging in the time frame you are watching? If trending, which way?
* Is price currently at a level that is obvious to all market participants? Remember, it is their orders that will push your trade to profit or loss. What are other traders seeing?
* What is the price action? Is it obvious?
* What would you regret more, passing on the trade and watching it go for 100's of pips without you, or losing a small % of your account?
* In my experience, mistakes of omission are far more painful than mistakes of commission.

After thinking through these questions, is this a trade you would like execute?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out