FX Today’s Trade Strategy 8/16

EURUSD Euro-Dollar

・Yesterday's Trade

Yesterday, the price ultimately moved lower, but there were many elements suggesting support such as daily chart lows and moving averages, so I could not go short.

・Market Environment and Today's Strategy

Currently the price has fallen to the weekly lower at 1.0150.

1.0150 is a strong level that has supported price several times.

The focus today is on the rate around 1.0150.

I want to be mindful of price action here.

If it breaks down, it could target down to 1.010.

Long positions would be after a first sell-off.

USDJPY Dollar/Yen

・Yesterday's Trade

Yesterday, as expected, the H4 moving average acted as resistance, forming a W top on the M15 level and breaking the neck line to short.

Exits at 132.50, a monthly low. About +52 pips profit.

・Market Environment and Today's Strategy

The 132.50 support seemed strong.

But the question is how far the buying will continue.

If a bottom is formed at 133.0 or 132.50, consider going long.

However, since H4MA is involved, be cautious of irregular movements.