USDJPY Long + Short Beta Setups Based on 4H, 1D + 1W Charts

This is a test setup of my own for the USDJPY , not something I would recommend anyone entering a trade on without doing your own analysis. On the short I have a target of around 88pips and on the long I have a target of around 220pips.

We've had a bullish crossover of Moving Averages on the 30Min chart and on the 1H I can see that price is respecting to stay above the EMA50 and moving into an uptrend, making lower lows, preparing for a bullish crossover of moving averages on the 1H chart as well.

On the 1H chart we can see price is just starting to move up from the lower bollinger band and we're seeing a bullish crossover on our stochastics at 10% oversold. Combined with MACD we see good momentum with plenty room to break to the upside.

On the 4H chart we can see a bearish crossover on the stochastics at 80% overbought, diminishing volume on our MACD and price has moved down from the upper bollinger band towards the centre, suggesting room to move down.

On the 1D chart although MACD is showing good volumes of sellers, deeper analysis would suggest sellers are dropping out and the buyers are soon stepping in. We can see price has moved up from the lower bands and a bullish crossover on the stochastics, which go hand-in-hand with our analysis for another leg up.

Overall, we're seeing mixed signals and in my opinion... with a bullish bias. I will be waiting to see which way price breaks from the lime-green trend lines and after the break, I will be waiting for price to break either of the major support/resistance lines in red which I have made thicker and in bold. I'm waiting for price to close and bounce off from either of these positions to determine which way I'm taking this trade.

This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.

Please comment below, share your views on this beta test trade and Like if you agree with my analysis.

Trade active

Trade closed: target reached:

Awesome result - hit our target!! :)