3/30 FX trading is the best product as an online side business
＜March 29 USD/JPY Results＞
Tokyo range: 123.12=124.31, NY range: 121.98=123.28
Yesterday's view on Tokyo was that flows would develop for those who break the “divergence zone” 123.50=124.10,
so you would simply join on the breakout in the direction of the trend. However, 70% of trades stayed within the “divergence zone” with a back-and-forth, i.e., a waiting/adjustment phase,
and protruding beyond both sides of the “divergence zone,” the forecast missed.
so you would simply join on the breakout in the direction of the trend. However, 70% of trades stayed within the “divergence zone” with a back-and-forth, i.e., a waiting/adjustment phase,
and protruding beyond both sides of the “divergence zone,” the forecast missed.
However, from Europe, the price dipped below the “bottom value point” 122.95-00, which is an important turning point and selling participation was essential.
As expectedthe typical bottom-testing pattern occurred with a sharp drop to the “bottom value zone” 121.85=122.00 and a rebound is now underwayin progress.
As a result, in Tokyo on 3/29, there was a long-awaited S/L (stop-loss) touch for the first time in a while, but from Europe there was a back-and-forth price movement enabling a net squeeze, resulting in a large recovery.
＜March 30 Tokyo Development＞(as of 8:20)
Tokyo’s approach on 3/30 is simple as well.
Attention first on whether the 9:00 Tokyo open can occur at the “bottom value point” 122.95-00.
(1) If opened at the “bottom value point” 122.95-00 and breaks upward, participate in buying immediately and take profits at the “upper limit zone” 123.50=75
(2) If opened at the “bottom value point” 122.95-00 and breaks downward, participate in selling immediately. A market reversal would be decided, so sell now,
wait for a rebound at the “bottom value zone” where Tokyo’s “lower limit zone” becomes 121.85=122.20, taking profits and entering new buys (same as last night’s NY development). (3) If opened slightly below the bottom value point 122.95-00, it will hover weakly at the wall of the bottom value point,
without a strong drop during Tokyo time, and a substantial decline will start from European time.
＜March 30 Tokyo USD/JPY Analytical Diagram＞
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