The USD/JPY 1-hour chart has broken above the range
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Good morning, everyone.
The USD/JPY had been in a range before the U.S. employment report, but it broke out of the range and surpassed 154 yen.
USD/JPY 1-hour chart
All “billionaire traders” please refer to the Billionaire Trader 1-hour chart.
You can see that buy signals are turning red boxes and sell signals are turning blue boxes.
This viewpoint is the same on the Billionaire Trader 1-minute chart.
Before the employment data, the yellow □ zone formed a range, but now it has exceeded 154 yen.
The multiple horizontal lines of the white □ zone are the Billionaire Trader 1-hour long lines.
The temporary goal of this trend can be viewed as white star.
If the 1-hour chart's upward trend continues, the Billionaire Trader line will be cleared one by one upward, so the strategy is to take a long position from the point where the 1-minute Billionaire Trader chart changes from selling to buying.
A position that aligns the 1-hour trend with the 1-minute Billionaire Trader chart is likely to win more easily.
Let's recall the definition of trend.
If the trend continues...
・Uptrend
Continuously making higher highs and higher lows
・Downtrend
Continuously making lower highs and lower lows
In the image, you can see that from the far left red box it becomes an uptrend, and from the blue box it becomes a downtrend.
The same applies on the 1-minute chart as well.
If this upward trend continues, the 1-hour chart should continue to push the highs and lows upward.
Check where to position on the 1-minute Billionaire Trader chart.
At that time, you need to look at the relationship with the 1-hour highs and lows, but it would be good to refer to the 1-hour Billionaire Trader line.
As of now, it would be prudent to avoid taking an L position at the 1-hour Billionaire Trader line around 15439.
Wait for the 1-minute Billionaire Trader chart to turn buy within the decline to the 15439 line.
I anticipate taking profit beyond the 154778 level.
Anyway, for traders who want to succeed in trading and would love to make a living from trading, the product I recommend — and that you can acquire through self-study — is this trading technique below:
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