February 27, 2023 FX Trade Strategy "Today's Move" GoGoJyan Edition

Hello there!
This is Tatsuron.

It’s the start of the week! Here is today’s USD/JPY trading strategy.
※How to read the lines, details of indicatorsPlease see here.

USD 1-hour chart

USD/JPY trading strategy
Long points
① Around 136.820 yenBreak
② Around 137.421 yen Break
③ Around 135.459 yen Reversal

Break strategy
① Break around 136.820 yen with an expectation to rise above 137 yen. This area tends to hold at the daily chart level, so if the price breaks below 136.428, exit.
② If it breaks around 137.421 yen, it becomes strong. This is the core long line with a target up to 140 yen. If it reaches this level, we’ll smoothly take profits on subsequent higher highs.

Reversal strategy
③ target the reversal expectation where resistance around 135.459 yen becomes support (resistace-turned-support).
If it breaks below 135 yen, switch to short.

Short points
① Around 135.895 yen Break
② Around 134.793 yen to 135.000 yen Break
③ Around 136.428 yen to 136.820 yen Reversal

Break strategy
① A buy-to-cover on near-break around 135.895 yen. If the price rises quickly, it may fall quickly too.
② The area around 134.793 yen to 135.000 yen is a turning point between the low- and mid-130s. If it reverses here, go long; if it breaks through, go short.

Reversal strategy
③ Around 136.428 yen to 136.820 yen is as explained a zone where short entries are likely, so place counter-trades with 137 yen as a backdrop. High risk, high reward.

Thank you again for reading today.