FX Today's Trading Strategy 12/16

EURUSD Euro Dollar

・Yesterday's Trade

Yesterday there was a bullish pullback in the morning, but the entry timing coincided with a data release, and the spread was too wide, so no entry was made.

・Market Environment and Today's Strategy

After the data release yesterday, it touched 1.070 and then dropped sharply.

The level around 1.070 is likely to become a psychological/noticeable rate.

I want to watch movements around 1.070 or near yesterday's high around 1.0730.

If a big right-shoulder W top forms at this rate, consider a contrarian short.

If price stops falling at the weekly high around 1.060, consider going long.

USDJPY Dollar/Yen

・Yesterday's Trade

Yesterday, since it broke above 135.50 from the morning, I went long.

I exited as it looked like it might pull back after crossing 136.50. +97 pips

・Market Environment and Today's Strategy

As per the morning scenario, the trend turned and rose yesterday.

Reached a major level of 138.0.

I want to pay attention to movements at 138.0.

However, given it’s the weekend, there may be muted movement.