FX Today's Trading Strategy 10/17

EURUSD Euro Dollar

・Friday's Trade

On Friday, shorted near the previous day's high around 0.980 after forming a triple top. +41 pips

Thereafter, bought the dip around last week's low near 0.9726 and gained +43 pips.

All developments followed the morning scenario.

・Market environment and today's strategy

Last week's weekly candle ended with a lower time frame close.

This pattern suggests a trend reversal is possible.

Last Friday experienced strong selling, but there is a plan to attempt testing 0.980 again.

There is strong resistance at around 0.980 from the daily moving average, so whether this level is broken is the key.

USDJPY Dollar/Yen

・Friday's Trade

On Friday, near the previous day's high, a W-top looked to form but collapsed, so we went long.

There was some caution about the high, so the lot size was small. +89 pips profit.

・Market environment and today's strategy

The current rate around 149.0 is near the upper boundary of the daily channel line.

This line has faced selling attempts multiple times, so today’s long may be cautious.

If we break below the 148.50 level, consider waiting for a pullback to short.