March 9, 2023 FX Trading Strategy "Today's Move" GoGoJhan Edition
Hello there!
This is Tatsuron.
Today is the second day of three US indicator releases, with US unemployment benefits included.
Here is the USD/JPY trading strategy!
USD/JPY 1-hour chart
USD/JPY Trading Strategy
Long Points
① 137.903 around 138.171 JPYBreak
② 139.027 around Break
③ 136.428 around 136.820 reversal
Break Strategy
① Break near 137.903–138.171 will push to a new high and form a turning point range when paired with the retracement line.
This is where the market starts to move. If it stalls here, consider counter-trade as well.
② The area around 139.027 aims for 140. Aiming for a new high, but be cautious of a quick pullback from the intraday high.
Reversal Strategy
③ 136.428–136.820 reversal target; the first attempt succeeds. If price moves narrowly in this range, this is the key area. If the upward trend line is broken, cut quickly.
Short Points
① 136.428–136.820 Break
② 135.895 around Break
③ 137.648–138.171 reversal
Break Strategy
① Break near 136.428–136.820 is a play to widen the range before important indicators, aiming for expected value.
Since you’re aiming for a break of a zone that previously reversed support/resistance, the opportunity is relatively fragile but solid.
② Near 135.895, as yesterday, include the breakout of the rising trend as well. Position is somewhat in the middle, but this is a point that elicits a reaction. The nearby support zone from 135.206 to 135.459 is also a follow-on, so you can wait until here.
Reversal Strategy
③Reversal strategy for 137.648–138.171. Similar to yesterday, target a move downward from the high toward 138 yen area with a high-risk, high-return quick move.
Take profits quickly before the data releases.
Today’s Indicators
