austinlmkc
Short

USD/JPY - Speculating a Breakout and an Idea of an Ideal trade.

FX:USDJPY   U.S. Dollar / Japanese Yen
Currency Pair: USD/JPY
Date: May 03, 2019

This is an application of the few rules I have learned about trading forex.

- Support and Resistance
- Pattern Trading
- Price Action
- Trends
Some thought on this pair:

The pair is kind of wedging up. It is creating a point of pressure in that price will have to either do one of three things.

(1) Bounce
(2) Break
(3) Float

These three things could happen in a combination kind of like a boxing combo. Or as simple as one. These 3 principles are relevant to price action at its current price and range. Keep a lookout for this pair. Whether I am correct or not I think in the next 140 days you will either catch a lot of pips trading a up/down - trend. Once the trend is established I know I will be on a lookout. Wish you luck in the ability to catch the opportunities while you can.

Change the different timeframes to see the full technical analysis .

Trading Journal Entry: 1

By: Austin S.

Comment: Part 1/4
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