The808Trader

USD/JPY - Fundamentals and Technicals at work

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
This may look a little confusing but I've added a secondary entry on top of our original entry. We're already 80+ pips in profit from last week's setup, and I confirmed our entry in the trade room as well, so if you're a member you should have some profit rolling if you followed me into this position. There are a couple things to think about this week with this pair regarding fundamentals. We still have the government shutdown, the US markets will be partially closed Monday, and rumors about easing Chinese tariffs help perpetuate a strong dollar. So we need to be aware of those 3 things moving forward this week, especially the news about the tariffs. From a technical perspective I am looking to enter a buy off a good candle if support holds which is why my entry line is a little below current price. I've set my stop for this entry just below the previous price structure low, as a break of that area would invalidate this setup and trigger a good time to exit. If we fail to get a drop to support, or fail to hold that support, this setup may become invalidated.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.