March 8, 2023 FX Trading Strategy "Today's Move" GogoJyan Edition
Hello there!
I am Tatsuron.
Today is the first day of three consecutive U.S. indicators, featuring the ADP Employment Report.
Here is the USD/JPY trading strategy!
USD/JPY 1-hour chart
USD/JPY Trading Strategy
Long Points
① 137.421 around 137.648 JPYBreak
② 138.171 JPYaround Break
③ 136.428around 136.820 JPY, reversal
Break Strategy
① 137.421 JPY to 137.648 JPY area — break is quite near, but the idea is to aim for the 138-yen area from here. Be wary of a sharp drop due to a loss of momentum.
② Break above around 138.171 JPY to continue making new highs. Still, since this is ahead of the indicators, if it surges this far, take profits quickly!
Reversal Strategy
③ 136.428 JPY to 136.820 JPY area reversal target involves the expectation that resistance becomes support. If it stalls and reverses from the 136-yen area and breaks above the upper end of the zone at 136.820, consider a counter-trade.
Short Points
① 136.428 JPY to 136.820 JPY break
② Around 135.895 JPY break
③ Around 137.648 JPY to 138.171 JPY reversal
Break Strategy
① Break near 136.428 JPY to 136.820 JPY area is opposite to the long strategy; there was no resistance/support conversion in this case.
In break scenarios, it’s more about whether the pullback or push paused rather than how high or low it went next. Breaks that don’t stall are common; it’s a head-on move with higher risk but also higher reward.
② Around 135.895 JPY area, including an upward trend break. It’s a mid-range position, but a point where there may be reaction. The nearby support zone from 135.206 to 135.459 serves as a follow-through area, so waiting here is fine.
Reversal Strategy
③Reversal strategy from 137.648 JPY to 138.171 JPY. If heading toward 138, take on high-risk, high-return plays by selling into the upper resistance rather than continuing to chase higher.
If the price goes up, think “long,” and handle these pullbacks or deeper retracements with care.
Today's Indicators
