Great trade last week, on KIWI, and for this week, we have to more. YEN & AUSSIE. Let’s start with YEN, following with AUSSIE on next POST.
Forex Day Trading Forecast USDJPY for 12-02-2017
Easy week for easy transaction to make.
As planned, after a week on breakout, there’s our next few weeks of easy continuation. For this week, there’s 4 pairs to watch for :
USD: US Dollar showing strong “buying signals”, and it’s why I’m not going against USD pair for this one. GBP: With KIWI, taking easy for this week, GBP get stronger, it would be a great idea to keep our position in GBPNZD, and wait for next continuation. AUD:…Look like it start to be week, but, it’s not clear yet. How ever trading AUDUSD would be a nice idea. JPY: …planned 2 weeks ago, now it’s ready for our transaction. USDJPY, should be the winner for this week.
Let’s Plan our trade on USDJPY for this week.
Before going on USDJPY chart, let’s look how dollars index are doing.
What to look for?
Market Makers keep buying Dollars. Down Trend / Flag was broken. Break out it’s done, let’s wait for our continuation.
Now, let’s look on USDJPU daily time frame.
What should you see and understand?
Very clear… a great Break Out, last weeks. Following by a nice 38-50% reversal. Down trend almost broken…looking for entry. Great profits to take, by buying low and sell high.
Let’s find our Entry point, Calculate our Risk, and find out when to enter.
Because, this trade it’s so easy to take & see…there’s no need for this week, to check on long term. Don’t complicate your life, more that you should.
Entry, in the green zone, or at current price, once we get out from down trend. Stop would be above green zone. Targets, 2 options, sell some at the top, and keep the rest for the 125.500 points area.
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