Today's USD/JPY strategy
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Good morning, everyone.
On Monday, the USD/JPY opened with a gap and closed lower firmly.
USD/JPY 1 hour & 1 minute charts
I believe millions of traders can see that the 1-hour chart has shifted to a selling trend.
Currently around 157.85, with a retrace up to 158.12, or if it continues to fall, aiming near 157.61 → around 157.26.
Also, if the red stars are cleared upward, reaching the red circles is also possible according to the chart.
On the 1-minute chart, I expect movement of about 50 pips up and down from the yellow circle.
A range within that area is possible, so I want to avoid getting caught in high or low extremes.
Currently I’m roughly at a sell 7: buy 3 ratio, but I plan to buy around 157,450 and sell around 158,122.
There are no important economic indicators today.
Tomorrow there is the U.S. Consumer Price Index, so there should be some movement to a certain extent.
I have always said
that markets must be viewed flexibly and from multiple angles in charts.
USD/JPY 5-minute chart
All million-trader users, please view the 5-minute million-trader chart.
The yellow square range zone looks like a potential key point.
Which direction will it break out to?
If you consider that, you can grasp the near-term big picture.
For example, within this yellow square zone you might choose not to trade, or you might chase the breakout direction with the 1-minute chart as your guide, establishing your own strategy.
Focusing on the 1-minute chart and confirming the environment with the 1-hour and 5-minute charts should also boost your position confidence.
Thank you for your continued support today as well.
If you are someone who desperately wants to succeed in trading, who wants to make trading a living, I recommend my product, which can also be learned through self-study. This is the trading technique:
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