[10/22] Tonight's USD/JPY scalping points and methods available for free public viewing
Tomizaki from Trading Office here.
【Points for USD/JPY scalping on 10/22】
Good job everyone! Alright, let’s do USD/JPY scalping tonight as well!
First, the Tokyo time overview for today.
Currently, USD/JPY is around 151.75. This morning, it started around 151.85, but in Tokyo time, with Prime Minister Kishida’s rise, the ongoing yen-selling trend from the start of the week seems to have run its course, and there appears to be some profit-taking selling. After 10:00 Japan time, the day’s low reached around 151.50.
However, with the Bank of Japan’s monetary policy meeting next week likely postponing a rate hike in October, further downside is not expected, and it looks set to hold roughly at the morning level as it transitions to overseas trading.
The market seems to be waiting for the next catalyst. Please spare us the stagnation though...
Now, the USD/JPY scalping points for tonight.
● Movement around the London market open around 16:00
● Movement around the New York market open around 22:00 (Dow opens at 22:30)
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● Be cautious of headlines related to Kishida’s new administration
● Be cautious of headlines related to U.S. government shutdown
Tonight’s “1-minute chart scalping” has no major U.S. data or events planned, so there isn’t a lot of market-moving material. The near-market movements around each market open will likely be the targets. For users of the “1-minute scalping club,” handling it according to theory should be fine. It would be nice if some new data came out though…
Also, the “15-minute chart scalping” for short-term trades: although yen selling driven by Kishida’s victory has cooled, with the potential U.S. rate hike expectations fading, yen strength movement is limited today, so don’t force it. I don’t feel a downward move coming….
Now, overseas trading will begin shortly!
Because scalping targets small profit margins, one might think there are opportunities 24 hours a day, but that is not the case. Focusing on periods with relatively high volatility can significantly lower trading difficulty.
The time periods I target are around the London market open and around the New York market open.
・London market open time (UTC-4 during US daylight saving time / UTC-5 during US standard time)
・New York market open time (UTC-4 during US daylight saving time / UTC-5 during US standard time)
After the release of U.S. data and events, volatility remains high and opportunities abound. However, in the few minutes right after the release, spreads can widen, so the rule is to trade only after it returns to the normal spread.
Always check the U.S. data and event schedule in advance. By knowing the times when opportunities will come, you can efficiently build profits.
Also, avoid positioning immediately before U.S. data or events. If you go against the trend, you can’t be helped. You can be taken to the stop-loss in an instant. Careless mistakes are not allowed, absolutely not.
The U.S. data and event schedule can be checked on the websites of each brokerage and FX provider.
Of course, there are many other points, but I’ve explained the minimum points you should keep in mind when scalping USD/JPY.
Also…
Actually, I have fully released one of my trading techniques, the “15-minute chart scalping,” completely for free. I hope it can be of some help (completely free!).
⇒Scalping Method Explanation Book “15-Minute Chart Scalping”
Additionally, on the following page I also publish my main trading method, the “1-minute chart scalping,” so if you’re interested please take a look. (Sorry… this one is paid though.)
If you’re aiming higher, please consider it.
⇒“1-minute chart scalping” using tick charts
