[Today's USD/JPY Strategy] The USD/JPY 1-hour chart is in a downtrend. Is the target the gap on the 6th?

Good morning to everyone.

Yesterday's USD/JPY moved about a 1 yen range.

If I write like this, the recent USD/JPY range is generally about 1 yen, right?

I think you can perform chart analysis while predicting that.

From the start of the week, in the article I wrote, USD/JPY 1-hour chart shows a selling reversal and is currently in a downtrend.

USD/JPY 1-hour & 1-minute charts

The 1-hour chart is in a downtrend.

My tentative goal is to close the gap from the 6th, what do you think?

All ultra-traders, please check the 1-hour chart of Ultra Trader.

Even if the 1-hour is in a downtrend, it doesn't go straight down.

As shown in the chart, a temporary high/resistance is formed, then it falls, afterwards a temporary bottom is formed and becomes support, and then it rises again, repeating this movement.

This applies not only to the 1-hour chart.

On the 1-minute chart, during yesterday's Tokyo-time rise, an Ultra Trader short line was drawn, and then it fell in New York time, a straightforward development.

Ultra Trader scalping

Ultra Trader chart

Ultra Trader line

can complete the trade.

To enhance that level of completion, you utilize the reversal on the 1-hour chart.

I refer to support/resistance as “sacks” (sandbags), and places where price holds, it reaches there several times and “piles up the sandbags tightly.”

From there, you chase the reversal on the 1-minute chart.

In that chasing method,

volume

Ultra Trader line

breakout

These three elements overlap, but you need to develop in actual trading which position to target.

For example, deciding whether to go on a pullback while watching volume, or to go on a break after that pullback.

Breakouts tend to fit well when there is volatility, so it's easy, but during periods with no volatility,拾ing pullbacks is often more prudent.

Priority is pullbacks, but you should also keep a strategy in mind to switch to breakouts flexibly.

Today is Friday, and there are no major US indicators.

I expect it to widen through stock follow-through or USD/JPY support/resistance clear, but since it's Friday...

For those trading after returning home, you can check Ultra Trader charts based on the highs and lows of Japan time.

Today, it is gradually rising and then dropping sharply, a selling-favorable development.

If aiming for a rebound, avoid holding too tightly on long positions.

I plan to wait for the “sack zone” as a selling area or a buying area.

What I, as a trader, would recommend are the following three products.

The New Ultra Trader's Scalping: Volume Plus

FX Trading Not Ordinary: Hedging

Explosive Birth Indicator: Transition to Winning Trader

That's all.

Thank you again for today as well.