Both these positions closed at break even now. We got a nice move up last night but couldn't continue that so either we will see more sideways consolidation or price just to push to the downside.
Taking a look at the USDJPY, we've reached a major level of support, I'm expecting a pull back and looking to layer in short positions if we get the retrace. We take this out to the higher time frame to find our targets and we have a look at the currency index and a couple of other charts to back up our trade idea.
Have just entered short trades on USDJPY from the resistance area of 114.200, looking at price to make a move back down to 113.500 and possibly long term even lower... Risking only 1% and taking 50% profit atlest at 113.500, and then letting the rest run at break even.
The area of 114.200 has proven its self over the last few weeks so ill be hoping to jump on some shorts if we see more rejection.
So USDJPY back to the consolidation range, REMEMBER this consolidation range is a long term daily resistance also, so shorts from 114.200 is what I'm hoping for but will still look at taking buys off the support of 113.500. Either way wait for price to show the signs from the levels and always take some profits, good luck!
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Still looking for some real moves with this pair aha.. 113.500 is the level to look for those buys but nothing at the moment is getting me to excited, patience with this one and hopefully something can give it a kick.
Stopped out at break even on USDJPY and will be just watching this pair for atlest the start of the week. If price can reject that support at 113.500 I will be looking for buy trades but if price breaks that area ill be looking for continuation shorts... If price can breakout to the upside through that 114.500 area Ill be looking for continuation longs, but for...
Just explained my trade I've taken on USDJPY and possible scenarios heading into the end of the week, praying for further downside but price is struggling at the moment with 113.500 so holding 50% with stops obviously moved to entry point. I will also be watching if price creates an opportunity for buy positions off that 113.500 level.
Good morning all, looking at my Daily Forex watch-list where I have identified three (3) new trade setups. All high risk setups as explained in the video with all against the trend. Be careful, especially around the AUD/USD buy due to the interest rate news today. Cheers.
In this vide I explain all the reasons why I expert to see more downside for USDJPY back down into 109.000 level Thanks for watching! If you agree or disagree drop a comment or a like on the video and follow if you want to see more! :)
In this video, I explain the reasons behind why expect to sees a potential move back down into 108.700 for this pair and also discuss two opportunities for entering and capitalizing on this set up. Thanks for watching :) Comment below what you think!
Looking at a next short area on USDJPY to hopefully continue the move down for longer term sell offs... like always MANAGE THAT RISK!! annnnnnd have a good week everyone! I will update when I can..
Secured longs at the start of the week and took some nice profits. I'm now looking at possible next moves to the downside... Ill be waiting again at the start of the week for the right price action to hopefully grab some nice entry's. Remember FOMC later in the week so USD pairs we react to that... Manage risk. DISCIPLINE!!
Hey traders, here is the analysis for the USDJPY. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. Disclaimer- This is not financial advice.
Im looking at possible shorts heading into the next 24 hrs, I want to see price develop around that area of resistance before entering a trade though!
Hey traders, here is the analysis for the USDJPY. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.