[8/14] Tonight's USD/JPY scalping points and methods, free to公開中
This is Tomizaki from Trading Office.
【8/14 USD/JPY Scalping Points】
Good work all! Let’s go ahead with USD/JPY scalping again tonight!
First, here is today's overview for Tokyo time.
Currently USD/JPY is around 159.30. The pair started this morning around the 159.50 level, but during Tokyo time there seems to be some slight dollar selling as the U.S. Retail Sales data release tonight approaches, prompting a bit of a pullback.
If this U.S. Retail Sales figure comes in below expectations, expectations for rate hikes may retreat further, potentially weighing on the dollar. Conversely, if there is a positive surprise, there may be a move to test 160.
From the morning levels, USD/JPY is likely to fall about 20 pips as it transitions to overseas trading hours.
Today, as we hover in the 160 yen area where intervention is watched, there is a tendency for spike-like movements (fake interventions). If you see spike moves that do not reach a full 1 yen drop, wait for a lower wick and look to accumulate longs in small steps.
Now, the points for tonight’s USD/JPY scalping.
● Movements near the London market open around 16:00
● Movements after the U.S. Retail Sales release at 21:30
● Movements near the New York market open around 22:00 (Dow opens at 22:30)
● Movements after the U.S. University of Michigan Consumer Confidence Index release at 23:00
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Other notes…
· Be cautious of headlines related to U.S.-Japan coordinated intervention
· Be cautious of headlines related to Middle East tensions
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Tonight’s “1-minute chart scalping” will target moves around market openings plus the moves after the 21:30 U.S. Retail Sales and 23:00 U.S. University of Michigan Consumer Confidence releases. For users of the “1-minute scalping club,” follow the standard approach and you’ll be fine. Also, there is a possibility of follow-up intervention during the Obon holidays—stay vigilant.
Additionally, the “15-minute chart scalping” for shorts, which is a dedicated approach, may find the up moves heavy due to the U.S. Retail Sales report being released tonight, so it could be worth trying. The entry point would be waiting for a bit of a pullback and selling around the mid-159s.
With that, overseas trading hours are about to begin!
Because scalping rewards small target profits, it’s often thought there are 24-hour opportunities, but that’s not the case. Targeting periods with higher volatility significantly lowers the difficulty of trading.
The times I target are around the London market open and around the New York market open.
・London market open time (during U.S. daylight time 16:00 / during U.S. standard time 17:00)
・New York market open time (during U.S. daylight time 22:00 / during U.S. standard time 23:00)
Even immediately after U.S. indicators/events, volatility increases and opportunities arise. However, in the first few minutes after the release, spreads may widen, so the rule is to enter only after they return to normal.
Please check the U.S. indicators/events schedule in advance. Knowing when opportunities will arise helps you accumulate profits efficiently.
Also, avoid positioning immediately before U.S. indicators/events. If you go against the trend, it can be devastating. It can wipe out your losses in an instant. Careless mistakes are not acceptable, absolutely.
U.S. indicators/events schedules can be checked on the websites of each brokerage and FX provider.
Of course, there are other points as well, but I’ve discussed the essential points you should cover when scalping USD/JPY.
Also…
Actually… one of my trading methods, the “15-minute chart scalping,” is fully available for free. I hope it’s helpful as a small contribution. (Completely free, by the way.)
⇒Scalping Method Explanation Book “15-minute Chart Scalping”
Also, on the following page, I’ve published my main trading method, the “1-minute chart scalping,” so if you’re interested, please check it out. (Sorry… this one is paid.)
If you’re aiming higher, please consider it.
⇒“1-minute Chart Scalping” Using Tick Charts